Provincial Outlook Economic Forecast: Alberta—Spring 2017
The Conference Board of Canada, 74 pages,
July 4, 2017
This quarterly economic forecast for the province of Alberta examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
- A more balanced world oil market will slowly increase oil prices over the medium term, after an oversupply gutted the market price over the past two years.
- Real business investment in the province is set to rise by a negligible 0.1 per cent this year, but by 7.2 per cent in 2018, fuelled in large part by the recovery in energy-related investment.
- Real household consumer spending is projected to grow by 2.8 per cent in 2017, led by purchases of gasoline and motor vehicles.
- Housing markets will begin to recover in 2018 with 8.3 per cent growth in housing starts as a healthier labour market creates more homebuyers.