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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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Fun facts about Canada’s economy

The number one ingredient of a successful Canada Day celebration is a handy set of facts about the national economy you can share with friends, family and strangers!

Recession a risk, but not inevitable

While the risk of a recession is real, and much higher than at the start of the year, many economic forecasts (including ATB’s) are not projecting one

Overall wage growth in Alberta stalled in April

Compared to the month before, seasonally-adjusted average weekly earnings in Alberta edged down by 0.1% in April

Restaurant activity soars to a new peak

Seasonally adjusted receipts at food services and drinking places rose $36 million (+4.2%) to reach $886 million in April

Alberta posts another gain from interprovincial migration

Over the first three months of 2022, 5,351 more people moved to Alberta from other parts of Canada than vice versa

Consumers paid even more in May

We knew it was going to get worse before getting better, but headline inflation in Canada hitting 7.7% in May is still eye-popping.

Retail sales value in Alberta held steady in April

The seasonally-adjusted value of retail sales in Alberta barely budged in April, rising by just 0.3% over the level set in March

Housing starts through the roof

Construction of new homes continued to be bullish as Alberta’s housing starts (seasonally adjusted at an annual rate or SAAR) climbed 15.2% to reach 46,456 units in May

A new peak for wholesale activity

Seasonally adjusted sales in Alberta climbed $168 million (+2.0%) to reach a record high of $8.7 billion in April

Crop prices up again in April

On a year-to-date basis, both canola and wheat prices were up by 61% from the same point in 2021

Prices continue to push factory sales higher

The value of Alberta’s seasonally adjusted manufacturing shipments climbed $584 million (+6.5%) to reach $9.5 billion in April

Capital spending not quite a spree

While investment has recovered since reaching a multi-year low in Q2 2020, spending in the oil and gas extraction sector remains below pre-pandemic levels

Oil keeps gushing out

After a strong performance in the first quarter, Alberta’s oil output stood at 3.6 million barrels per day in April

Jobs report for May 2022

The number of unemployed Albertans fell to 131,600, the lowest since February 2015

OECD lowers global growth forecast

Both the OECD and the World Bank have downgraded their forecasts for global economic growth in 2022

Exports down but still high in April

The turnaround in oil prices compared to a year ago has sent Alberta’s total exports to record levels

Alberta’s international customers: How do we stack up?

Part four of a four-part series on Alberta's international exports

Alberta’s international customers: Japan

Part three of a four-part series on Alberta's international exports

Alberta’s international customers: China

Part two of a four-part series on Alberta's international exports

Alberta’s international customers: The United States

Part one of a four-part series on Alberta's international exports

Policy interest rate rises to 1.5%

The Bank of Canada announce that it is raising its trendsetting policy interest rate from 1.0% to 1.5%

ATB's Economic Outlook

Read our most recent growth forecast.

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