The Owl: Focused on Alberta’s Economy
Retail sales, the unemployment rate, population growth, inflation, international trade—these are just a few of the economic trends the team makes sense of in The Owl.
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Refueled
Average daily oil production in Alberta was up by 0.5% over the first 10 months of 2022
Pumped up
Canadian oil and gas spending rose again in the third quarter
The Weekly Wrap, December 1, 2023
Pushing through the drag: more jobs and a major project
Canadian economy - same story, different GDP route
Canada’s real GDP contracted at an annualized rate of 1.1% in the third quarter
Growing revenue: Farm cash receipts in Alberta
Total farm cash receipts in Alberta over the first nine months of 2023 were 7% above where things stood in September 2022
Majority of businesses optimistic about the next year
Optimism outweighs pessimism among Alberta businesses in latest Statistics Canada sentiment survey
Restaurant and bar revenue hits record high in September
Revenues were up by 14.2% year-to-date with about half of that due to higher restaurant prices
The Weekly Wrap, November 24, 2023
Pay it forward - Holiday sales in November and other consumer trends
What’s your major?
Alberta postsecondary students by field of study
Putting some fun back in the economy
The amusement and recreation sector bounced back in 2022
Fall cooldown
The annual inflation rate in Canada cooled largely as expected to 3.1% last month—down from 3.8% in September
Manufacturing sales rolling along in Alberta
Driven by strong petroleum product sales, the value of Alberta’s manufacturing shipments in September rose to their highest monthly level since January
The Weekly Wrap November 17, 2023
Part three of our Women at Work series and other Alberta-focused economic insight to begin your weekend
Women at work part two
Today’s Owl examines self-employment and business ownership among women in Alberta
Women at work part one
With Women's Entrepreneurship Day coming up on Sunday (November 19), the Owl is profiling trends related to women in the Alberta labour force and business sector
Canada’s trade in services has bounced back strongly
The value of Canada's service exports and imports was pushed down by 15% in 2020, but a strong rebound has since pushed it above its pre-COVID level
The Weekly Wrap November 10, 2023
A wider lens: From energy exports to Alberta’s tech sector
Farm product prices in September 2023
Alberta crop and livestock prices strong but down from recent peaks
Construction intentions lower in September
After a small increase of 1.8% in August, the seasonally-adjusted value of building permits issued in Alberta pulled back by 5.7% in September
Energy prices drive up Canada’s international exports in September
The value of Canada’s merchandise exports increased for the third month in a row in September
Job growth in Alberta almost entirely full-time positions
There were almost 84,000 more people working in Alberta over the first ten months of 2023 than over the same period in 2022
The Weekly Wrap November 3, 2023
Alberta jobs roller coaster - swinging back, all the way back
Threading the needle
U.S. Federal Reserve officials unanimously agreed to keep the benchmark federal funds target range at 5.25% to 5.5%
Nearing technical recession territory
The latest GDP estimates from Statistics Canada provide further evidence that the Bank of Canada’s interest rate increases are slowing the economy
Great gourd-a’-mighty! Pumpkin production in Canada
In 2022, about 87,000 metric tonnes of fresh pumpkin was produced in Canada with a farm gate value of just under $37 million
Restaurant and bar sales steady in August
Revenues pulled back slightly in August but remained strong compared to 2022 levels
The waiting is the hardest part
Economic fatigue setting in as inflation fight continues
Return to optimism: Fall energy sector survey
ATB Capital Markets has released the results of its latest survey of energy executives and institutional investors
Holding the line: A ‘hawkish’ rate pause and growth downgrade
As expected, the Bank of Canada announced this morning that it is keeping its trend-setting policy interest rate at 5%
Adding it up
The latest household spending numbers from Statistics Canada show that Alberta households spent, on average, $75,003 on goods and services in 2021
Manufacturing revenues on the rise
Factory sales in Alberta posted the largest gain among all provinces in August
The Weekly Wrap October 20, 2023
Lots to digest this week with more signs that Alberta’s economy is weathering the inflation and interest rate storm relatively well when it comes to housing and consumer spending
New home construction in Alberta highest in 8 years
The number of housing starts recorded in Alberta jumped by 21% in September compared to the month before
On the road to recovery: New vehicle sales rise in August
Almost 19,000 new vehicles rolled off lots in August for a year-over-year(y/y) increase of 18%
Back in the slower lane: Inflation edges lower in September
The Canadian annual inflation rate eased slightly to 3.8% last month, down from 4.0% in August, on broad-based declines
Higher learning: Education levels in Alberta
There has been a dramatic shift in the education levels of Albertans over the last two decades
The Weekly Wrap October 13 2023
Volatility in global oil markets, Alberta home construction, U.S. inflation, and landed immigrants in Alberta’s labour force
Summer swing
Using a three-month moving average to smooth out month-to-month volatility, the value of residential building permits issued in Alberta has been on the rise since June
Global economy still slowing
The resilience has been remarkable, but growth remains slow and uneven