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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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

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