This annual economic forecast for the province of Alberta examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Provincial Outlook Long-Term Economic Forecast: Alberta—2018
Provincial Outlook Long-Term Economic Forecast: Alberta—2018
Provincial Economic Analysis
$675.00
- Oil prices will slowly rise over the long term but will remain below the $100 per barrel mark until the later years of the forecast.
- Alberta’s economic fortunes will continue to be tied to the oil sands, although the lack of capacity to ship oil out of the province will hurt near-term revenues.
- While wages have been pulled lower by the recent downturn, the average worker in Alberta will continue to earn more than the national average over the long term.
- Household spending will advance throughout the forecast period, though at a slower pace than in previous decades.
- Alberta’s vast oil reserves will help the province maintain a healthy trade balance, although it will be smaller due to weaker gains in world oil prices.
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