In January, the Conference Board of Canada warned that Alberta could slip into recession and today, opinion regarding the province\u2019s economy remains unchanged.<\/p>\n
Speaking to the board\u2019s Western Business Outlook event on Tuesday in Edmonton, the conference board chief economist Glen Hodgson said, \u201cMy fear is that the forecast is still a little bit too optimistic\u201d.<\/p>\n
Given the downturn in Alberta\u2019s energy sector, the previous four years of \u201cphenomenal\u201d growth will take \u201ca significant hit\u201d in 2015, the conference was told.<\/p>\n
This will lead to reductions in energy companies\u2019 capital spending plans, a shortfall in royalty revenues and a slowdown in people moving to Alberta from within and outside Canada. It will also mean that gains in Albertans\u2019 primary household income will be reduced to one per cent in 2015. This has led to decreased consumer confidence while real estate sales, prices and housing starts are trending down.<\/p>\n
In January, the conference board warned that Alberta could slip into recession in 2015 and would feel the largest drop in gross domestic product of any province. The board also warned that business investment in 2015 could be down by $12 billion.<\/p>\n
In February, the organization forecast that while Canada\u2019s GDP will grow 1.9 per cent this year, Alberta\u2019s economy will shrink 1.5 per cent. Alberta\u2019s ability to recover from the downturn will depend on oil prices increasing. West Texas Intermediate crude that traded at more than $100 US last summer is now around $50.<\/p>\n
With stronger oil prices into 2016, Alberta should see \u201cmoderate\u201d 1.5-per-cent growth compared to 2.3 per cent for Canada. \u201cAlberta will re-emerge as a strong part of Canada\u2019s economy,\u201d Antunes said.<\/p>\n
Brad Ferguson, president of the Edmonton Economic Development Corp., said Alberta\u2019s story has sounded \u201cunnecessarily negative\u201d of late and he believes that Edmonton is well-positioned to deal with its share of Alberta\u2019s economic challenges, Ferguson told the conference.<\/p>\n","protected":false},"excerpt":{"rendered":"
In January, the Conference Board of Canada warned that Alberta could slip into recession and today, opinion regarding the province\u2019s economy remains unchanged. Speaking to the board\u2019s Western Business Outlook event on Tuesday in Edmonton, the conference board chief economist Glen Hodgson said, \u201cMy fear is that the forecast is still a little bit too…<\/p>\n","protected":false},"author":481,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4859,4895],"tags":[68098,3354,70572,3356],"class_list":["post-11730","post","type-post","status-publish","format-standard","hentry","category-lactualite-canadienne","category-mars-2015","tag-alberta-fr","tag-canada-fr","tag-economy-fr","tag-immigration-fr","category-4859","category-4895","description-off"],"acf":[],"_links":{"self":[{"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/posts\/11730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/users\/481"}],"replies":[{"embeddable":true,"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/comments?post=11730"}],"version-history":[{"count":0,"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/posts\/11730\/revisions"}],"wp:attachment":[{"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/media?parent=11730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/categories?post=11730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/tags?post=11730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}