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.
Provincial Outlook Economic Forecast: Alberta—Winter 2018
Provincial Outlook Economic Forecast: Alberta—Winter 2018
Provincial Economic Analysis
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- The second fastest provincial economic growth in the country will help lift Alberta’s real GDP beyond pre-recession levels.
- A lack of pipeline infrastructure is holding back the energy sector and leading to substantially discounted prices.
- With wages and household disposable income rising, retails sales will grow as well but not at the 7.7 per cent pace seen last year.
- Business investment will grow at 4.4 per cent in 2018 before levelling off to 1.4 per cent growth in 2019.
- The government deficit has narrowed to $9.1 billion for fiscal year 2017–18, but the budget will not return to balance until at least 2023.
- Exports will grow at 3.1 per cent this year, but they remain below their pre-recession peak.
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