RBC has rosier forecast for Alberta’s economy in 2020

RBC Economics predicts the economy will grow by 1.7 per cent next year, while last week ATB Financial called for 0.9 per cent growth

RBC has rosier forecast for Alberta’s economy in 2020Financial institutions operating in Alberta agree on one thing: there will be growth in 2020. They just can't agree on how much. A Provincial Outlook report by RBC Economics says oil production is set to rise materially, business investment will pick up and improving prospects for pipeline capacity expansion will shore up confidence in the…

Alberta economy to grow by 0.9% in 2020, ATB predicts

The improvement will be driven by increased oil production, pipeline construction, an uptick in natural gas prices, tourism and population growth

Alberta economy to grow by 0.9% in 2020, ATB predictsAlberta’s economy will grow ever so slightly in 2020, according to a forecast released Thursday by ATB Financial. The Alberta Economic Outlook predicts GDP will grow by 0.9 per cent next year, driven by increased oil production, pipeline construction, an uptick in natural gas prices, a strong tourism sector and ongoing population growth. The financial…

Alberta’s budget cuts not aggressive enough: report

Alberta's spending reduction plans much smaller than previous governments that wanted to eliminate the deficit, says Fraser Report

Alberta’s budget cuts not aggressive enough: reportThe Alberta government’s plan to eliminate the budget deficit by 2022/23 is less aggressive — both by timeline and by the amount of spending reductions — than previous successful deficit-reduction plans by other governments across Canada, says a new report released Thursday by public policy think tank the Fraser Institute.  “The recent Alberta budget represents…

Husky Energy cutting planned capital spending by $500 M

Capital spending in 2020 will be directed towards advancing the Lloyd thermal project and ongoing construction of a project in the Atlantic region

Husky Energy cutting planned capital spending by $500 MCalgary-based Husky Energy announced Monday it is reducing its capital program by half-a-billion dollars in 2022 and 2020. “We are continuing to focus on safe and reliable operations as we build on our improved 2019 performance and work towards our target of becoming a global top-quartile process safety performer by the end of 2022,” CEO…

Average weekly earnings edge up 3.4% in Alberta

Stats Can saw large employment growth in the health care, social assistance sector, and increased earnings in the transportation and warehousing sectors

Average weekly earnings edge up 3.4% in AlbertaAverage weekly earnings of non-farm payroll employees in Alberta in September rose by 3.4 per cent from a year ago, according to Statistics Canada. They remain the highest among all Canadian provinces at $1,177.54. The federal agency reported Thursday that the hike is “partially due to a low point observed in September 2018.” “Large employment…

Small business confidence in Alberta declines in November

Business confidence is the second lowest in the country and well behind the national average of 56.1 per cent

Small business confidence in Alberta declines in NovemberAlberta’s entrepreneurs have the fall blues. The monthly Business Barometer by the Canadian Federation of Independent Business showed small business confidence tumbled in November. The index fell 8.9 points from the previous month to 44.7. It's the second lowest in the country and well behind the national average of 56.1 per cent. The CFIB says an…

Alberta public employees have 9.3% pay edge

Goverment workers also enjoyed much more generous non-wage benefits, says the Fraser Institute

Alberta public employees have 9.3% pay edgeGovernment employees in Alberta received 9.3 per cent higher wages on average than comparable workers in the private sector last year, and also enjoyed much more generous non-wage benefits, says a study released Tuesday by public policy think tank the Fraser Institute. “Bringing government-sector compensation in line with the private sector would not only help…

Alberta sees uptick in wholesale trade sector

Alberta sees uptick in wholesale trade sectorFollowing two consecutive declines, wholesale sales in Alberta increased 1.9 per cent to $6.9 billion in September primarily as a result of higher sales in the machinery, equipment and supplies subsector, says Statistics Canada. The federal agency reported Monday that subsector rose by six per cent to $2.2 billion. “While all industries within this subsector…

AB October consumer price rose faster than country avg.

The Consumer Price Index in the province rose by 0.5 per cent from September to October while Canada overall saw a hike of 0.3 per cent

AB October consumer price rose faster than country avg.Consumer prices in Alberta rose faster than the Canadian average in October, according to Statistics Canada. The federal agency reported on Wednesday that the Consumer Price Index in the province rose by 0.5 per cent from September to October while Canada overall saw a hike of 0.3 per cent. On a year-over-year basis, prices in…

Lowe’s Canada closing 34 stores – 6 in Alberta

The six stores in Alberta that will close early in the new year are mostly former Rona outlets that Lowes says are underperforming

Lowe’s Canada closing 34 stores – 6 in AlbertaLowe’s Canada is closing 34 of its what it call “underperforming” stores across Canada including six in Alberta. "While making decisions that impact our associates and their families is never easy, closing underperforming stores is a necessary step in our plan to ensure the long-term stability and growth of our Canadian business," said Tony Cioffi,…