Business conditions in Calgary and Edmonton keep improving
The business conditions index for Alberta's two largest cities increased in July
By Rob Roach, ATB Economics 9 August 2021 1 min read
The latest numbers from Statistics Canada’s Real-Time Local Business Conditions Index* show that the situation in Calgary and Edmonton improved significantly in July.
The uptick in the index coincides with the lifting of most pandemic-related public health restrictions in Alberta on Canada Day.
A rising index reflects improving business conditions in an urban centre, while a declining index signals deteriorating business conditions.
As of the week of June 28, 2021, the index was sitting at 158 in Calgary and 169 in Edmonton. By the end of July, the index in Calgary was up to 176 for an increase of 11%. In Edmonton, the index rose by 16% to reach 196. These are the highest levels since the index began in August 2020.
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.
*The 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.
Answer to the previous trivia question: The North American Free Trade Agreement (NAFTA) came into effect on January 1, 1994.
Today’s trivia question: Which CFL team has won more Grey Cups: Calgary or Edmonton?