Business conditions in Calgary and Edmonton
By Rob Roach, ATB Economics 14 January 2022 1 min read
The latest data from Statistics Canada suggest business conditions in Calgary and Edmonton have bounced back after dipping the week after Christmas.
For of the week of January 3 to 9, 2022, the Real-Time Local Business Conditions Index* in Calgary was sitting at 165, up from 143 the week before. In Edmonton, the index went from 184 to 215.
A rising index reflects improving business conditions in an urban centre, while a declining index signals deteriorating business conditions.
A number of public health restrictions came into effect in Alberta on December 24, 2021 including limiting indoor facilities that participate in the Restrictions Exemption Program to 50% if the facility has fire occupancy load over 1,000 and to 500 attendees if the facility has a fire occupancy between 500 and 999; no food and drink consumption in seated audience settings or during intermissions in facilities with 500+ attendees; no interactive activities (e.g., dancing, darts, billiards) at indoor events and restaurants; and requiring businesses to end liquor service by 11 pm and close by 12:30 am.
In Calgary, the index got as low as 87 the week of September 21, 2020. Edmonton’s index reached its lowest point the week of August 31, 2020 when it was just 94.
Conditions in Calgary peaked at an index reading of 201 in early September 2021. Edmonton’s index peaked the same week at 227.
*The Real-Time Local Business Conditions Index is experimental and measures the business conditions in Calgary, Edmonton, Montreal, Ottawa, Toronto, Vancouver and Winnipeg using the week of August 10, 2020 as a starting point.
The Index has three components that combine alternative data sources with Statistics Canada's data holdings: the first is a static component to measure the economic size of a business district at the local level; the second tracks operating conditions of the businesses in a given area; and the third measures the level of business activity in the area using road traffic data.
Answer to the previous trivia question: Oil and natural gas do not come from fossilized dinosaurs but from plankton that died and sank to the bottom of ancient seas.
Today’s trivia question: When was the last time a Canadian team won the Stanley Cup?