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

tay

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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
 

MHz

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Mar 16, 2007
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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?

... 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

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Mar 18, 2013
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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

Time Out
Mar 16, 2007
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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.
 

captain morgan

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

Apparently there is an over supply right now

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.



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
 

captain morgan

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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
 

Tecumsehsbones

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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

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Mar 28, 2009
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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?

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
 
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