Alberta still the fastest growing economy in Canada
Here is a bit about the post from last week where I noted that if Alberta were a country it would tie China for growth. No surprise Alberta hast he strongest economy in Canada. All this of course will support home prices while others move her for high quality jobs.
Mark Herman
Alberta Mortgage Broker
Alberta economy fastest growing in Canada
Forecast 3.4% annual growth in 2014
CALGARY – Alberta has been the largest contributor to economic growth in the country for three consecutive years, outpacing the much larger economies of Central Canada, says a new report released Monday by the Conference Board of Canada.
And the board’s Provincial Outlook: Autumn 2013 report said Alberta will have the fastest growing provincial economy in 2014 with 3.4 per cent year-over-year growth.
Alberta will have the fastest growing provincial economy in 2014.
“Alberta’s outlook is so exceedingly bright right now in the context of all the risks that we’re seeing going on in the world. We’re seeing Alberta coming off two years of exceedingly strong growth,” said Todd Crawford, senior economist with the board. “And 2013, 2014, we’re going to see GDP growth of 3.2 per cent, 3.4 per cent over the next two years.
“It’s exceedingly strong and of course that’s all being driven in large part by the strength of the energy sector in the province. That’s not something that’s going to, or has changed, for much of the past decade.”
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“Alberta’s economy is definitely the most resilient in Canada,” said Ben Brunnen, an economic consultant in Calgary. “No other province has grown by above 3.5 per cent each year since 2010. Strong resource demand will continue to drive Alberta’s economy into 2014, fuelling population and job growth, construction activity, and increased household spending.