Insights

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Our economics team examines the latest statistics on employment, trade, consumer spending, the energy industry and other economic drivers to provide insight into what is happening in Alberta and where our economy is heading.

Economics News

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Recent Owls

Economic growth stronger than expected in the third quarter

Despite the strong showing overall in the third quarter, there are signs that the economy is gearing down

Alberta businesses anxious about the year ahead

Business confidence in Alberta is down 10 points from where it was this time last year and by 15 points compared to where things stood in the spring

Modest wage growth in September

Seasonally-adjusted average weekly earnings in Alberta were 2.6% higher in September 2022 than in September 2021

Let’s go out for dinner!

Seasonally-adjusted revenues at Alberta’s food services and drinking places grew for the eighth consecutive month in September

Shopping spree coming to a halt

Retail activity in Alberta retreated for the second month in a row in September

Some quick facts about the Consumer Price Index

The CPI provides us with a great measure of the general direction of price change over time for consumers as a whole, but the effects will vary from household to household

Benchmark resale house prices softer in October

The seasonally-adjusted benchmark price of a resale home in Alberta slipped for the sixth month in a row in October

Housing starts in Alberta spiked in October

The number of seasonally-adjusted housing starts in Alberta increased by 19.1% in October compared to the month before

Wholesale trade cooled slightly in September

After jumping by 6.4% in August, seasonally-adjusted wholesale revenue in Alberta pulled back in September with sales down by 0.4%

Inflation stayed sticky in October

The headline inflation rate in Canada in October was 6.9%—the same as it was in September

Alberta manufacturing sales steady in September

Sales edged down just slightly compared to August but were well above where they were 12 months earlier

The recovery in context: GDP per capita

When population growth is considered, Alberta’s journey back to its pre-pandemic level of economic output will not be over in 2022

A year of recovery

Things improved in 2021 with every province except Saskatchewan posting at least some GDP growth

Another month, another oil production record

Oil production in Alberta averaged a record-breaking 3.88 million barrels per day in September

Crop prices in Alberta remained high in September

The going rates for Alberta’s three main crop products were down in September compared to their recent peaks, but were still well above their five-year averages

Oil and natural gas boost Canada’s export performance

Canada’s energy exports over the first nine months of 2022 were $109 billion higher than over the same period in 2020

October 2022 jobs report

Despite the economic drag of elevated inflation and higher interest rates, employment ticked up in both Alberta and Canada in October

Construction outlook deteriorated in September

After pulling back by 9.2% in August, the seasonally adjusted value of building permits in Alberta was down by 11.9% ($160 million) in September

ATB's Economic Outlook

Read our most recent growth forecast.

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