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.
Document Highlights
Economic growth will be weak in 2019 due to the mandated cuts to oil production.
Real business investment is expected to shrink in 2019 for a fifth consecutive year.
Job creation is not expected to be impacted significantly by the cuts to oil production.
Housing starts look set to contract severely this year, as inventories of unoccupied homes have swelled.
Real GDP growth will bounce back in 2020 as the production cuts come to an end and new pipeline and rail capacity allows for normal oil production volumes.
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