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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