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Economic Outlook 2014–17

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Alberta’s Economy powers ahead Alberta’s economic expansion is expected to accelerate to 3.7% in 2014 after gaining momentum through 2013. One of Canada’s main economic engines is firing on all cylinders as Alberta’s business, household and government sectors all contribute to growth in Gross Domestic Product (GDP). Alberta’s robust outlook builds on an estimated 3.3% expansion in 2013, the fourth straight year above 3%, outperforming Canada and US economic growth (Chart 1). A key driver of Alberta’s growth is the energy industry, which is poised to see large gains as oil sands production ramps up. The manufacturing industry is expected to strengthen as global growth picks up, increasing exports in 2014.The agriculture industry is also expected to expand through the forecast period, building on a very strong production year in 2013. To read more click here

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Alberta’s economy powers ahead of the US

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A key driver to Alberta’s growth is the energy industry, which is poised to see large gains as oil sands production ramps up. The manufacturing industry is expected to strengthen as global growth picks up, increasing exports in 2014.  The agriculture industry is also expected to expand through the forecast period, building on a very strong production year in 2013.

New migrants have provided Alberta with a much‑needed source of labour, and have helped the economy grow at a solid rate without bumping into major labour supply constraints and cost pressures. Migration, while forecast to moderate from record levels, will continue to support a strong housing market and further gains in consumer spending in Alberta over the forecast period. To Read more about the report: click here

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To see more about what Alberta is doing…

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