Alberta's economy is on pace to grow by 6.7 per cent this year


tay
+3
#1  Top Rated Post
Alberta's economy is on pace to grow by a blistering 6.7 per cent this year, far outpacing every other province, according to the latest forecast from the Conference Board of Canada.

"Thanks to rising oil production and a swift turnaround in drilling levels, Alberta surged out of recession this year," Marie-Christine Bernard, director of the organization's provincial forecasting, said in a release Wednesday.

The report comes two days after a projection from ATB Financial that pegs real GDP growth of four per cent in Alberta for 2017, "which is likely to be the highest among the Canadian provinces."

The Conference Board, meanwhile, points to numerous signs that Alberta's
economy is growing even faster than that.

"The domestic economy also performed well, as consumers who had delayed making major purchases during the recession flocked to car dealerships and retail stores," the report reads.

"With oil prices steadily improving since the summer, Alberta's economic performance could well surprise on the upside once more."

The "booming growth" in 2017 comes after two years of economic contraction, and the Conference Board cautions that Alberta won't keep up that pace next year.

It forecasts provincial GDP to grow by 2.1 per cent in 2018, behind British Columbia's projected rate of 2.7 per cent and Newfoundland and Labrador's 2.4 per cent.

"However, recent strength in oil prices could help maintain the momentum in drilling and push economic growth higher over the near term," the report adds.

Alberta's economy to grow at blistering 6.7% pace this year, says Conference Board of Canada - Calgary - CBC News
 
mentalfloss
+1
#2
This is all Notley's fault!
 
Alternative
+1
#3
Good for Canada's economy, a state that delivers.

 
Curious Cdn
#4
... only if there are oil supply shortfalls ... war in the Middle East?
 
Cannuck
#5
Quote: Originally Posted by mentalfloss View Post

This is all Notley's fault!

...and Justin's
 
MHz
#6
Is that up from when we hit rock bottom or up from where we were before that thing that looked like a depression came rolling through?

Quote: Originally Posted by Curious Cdn View Post

... only if there are oil supply shortfalls ... war in the Middle East?

You missed the memo, Syria won so there is not only that oil coming online the pipelines going north will be built and the country they originate from are not going to be using the petro dollar.

The fields near Cyprus are still up for grabs and that is why Lebanon is a prize.(that and being a staging area for NATO)
 
Tecumsehsbones
+3
#7
Good news for Alberta. I don't know the personalities and parties involved, but I wish the people of Alberta well, and urge them to use this prosperity to put a little by for the tough times that will inevitably come.
 
MHz
+3
#8
You mean tough times like sending equalization payments east now the economy is in full swing again? Somebody (down east) probably has the amount figured out already.
 
Tecumsehsbones
#9
No, I mean take your pills.
 
taxslave
+1 / -1
#10
Quote: Originally Posted by mentalfloss View Post

This is all Notley's fault!

This is in spite of Notley, not because of her.
 
Cannuck
#11
Quote: Originally Posted by taxslave View Post

This is in spite of Notley, not because of her.

You mean like Trump?
 
MHz
#12
Quote: Originally Posted by Tecumsehsbones View Post

No, I mean take your pills.

Soon as I quit the crying your comment caused.
 
captain morgan
+2
#13
Quote: Originally Posted by Curious Cdn View Post

... only if there are oil supply shortfalls ... war in the Middle East?

Apparently there is an over supply right now

Quote: Originally Posted by Tecumsehsbones View Post

Good news for Alberta. I don't know the personalities and parties involved, but I wish the people of Alberta well, and urge them to use this prosperity to put a little by for the tough times that will inevitably come.



Quote: Originally Posted by taxslave View Post

This is in spite of Notley, not because of her.

No, really... Notley, single handedly raised global oil prices..... It was part of her election platform
 
Tecumsehsbones
+1
#14
Quote: Originally Posted by captain morgan View Post







People generally aren't wise. If a few more learn from past boom/bust events, that's the best we can hope for.
 
captain morgan
#15
People are people so I expect that the lesson will be only partially learned.

Mind you, the biggest concern relates to gvt as they find the booms as a great opportunity to spend like sailors in port... They never seem to learn
 
Cannuck
+1
#16
Quote: Originally Posted by captain morgan View Post

Apparently the
No, really... Notley, single handedly raised global oil prices..... It was part of her election platform

Either political leaders are responsible for rises and dips in the economy or they aren't. Which do you prefer?
 
Tecumsehsbones
+2
#17
Quote: Originally Posted by captain morgan View Post

People are people so I expect that the lesson will be only partially learned.

Mind you, the biggest concern relates to gvt as they find the booms as a great opportunity to spend like sailors in port... They never seem to learn

People generally aren't wise. Governments are, always and everywhere, breathtakingly stupid. And shortsighted. And venal.
 
captain morgan
+1
#18
Quote: Originally Posted by Cannuck View Post

Either political leaders are responsible for rises and dips in the economy or they aren't. Which do you prefer?

... And which provincial and/or federal policies lead to the increase in the global commodity price?

Quote: Originally Posted by Tecumsehsbones View Post

People generally aren't wise. Governments are, always and everywhere, breathtakingly stupid. And shortsighted. And venal.

Your proficiency as a wordsmith is second to none.

Very well said
Last edited by captain morgan; Nov 23rd, 2017 at 09:40 AM..
 
Alternative
#19
Nothing holy war in Middle Easts or from Canada?
 
captain morgan
#20
Ya lost me there bud
 
Alternative
#21
Quote: Originally Posted by captain morgan View Post

Ya lost me there bud

Canada has not been fighting for long-standing troops since World War II.

But the latest news says it's time today?


 
captain morgan
#22
Canada doesn't have a standing army that would be well suited to the task... That and the Forces are woefully under equipped
 
Alternative
#23
Reserve strength will be sufficient abroad.
 
captain morgan
#24
Interesting thought al though I believe you'll have a difficult time selling that idea to gvt or the Forces
 
Alternative
#25
Look at my new thread so you can find Canada's military reserve force.

 
Durry
+1
#26
It's good to see our Premier, Notley, talking with our PM discussing the most important issue at hand,,,,,discussing changing the name of the Edmonton Eskimos,, sheesh!!
 
captain morgan
+1
#27
Names of sports teams is of vital importance to not only the Province, but critical to the operations of the nation as a whole.

Besides, budgets balance themselves... We all know that
 
petros
+1 / -1
#28
Sports teams name themselves.
 
Alternative
#29
Ok my interest with Sports in TV the least 3 to 6 live matches in nhl.
Per weekend thus bodys.
Men's Sports I prefers.
Swedish and Canadians interest + for Americans + Finn + Russian.


Normal interest with hockey for the least Christians.
Last edited by Alternative; Nov 23rd, 2017 at 10:38 AM..
 
mentalfloss
#30
Quote: Originally Posted by Cannuck View Post

Either political leaders are responsible for rises and dips in the economy or they aren't. Which do you prefer?

You know very well what he prefers

But since he's picking the market driven side, I guess this means we'll be just fine if we get only one pipeline.