Prentice doesn’t agree with recession suggestion

ABOVE: Jim Prentice stated at a press conference on Tuesday that he doesn’t agree with the Conference Board of Canada’s prediction that Alberta was slipping into a recession.

EDMONTON – Alberta’s premier says he does not agree with a Conference Board of Canada suggestion that Alberta is likely to face a recession due to the plunging price of oil.

Jim Prentice calls the conference board report an outlier based on analysis that is not particularly convincing. The economic think-tank notes that Alberta’s latest employment and new housing start numbers are holding steady, but if oil prices stay low the province will slip into recession.

READ MORE: Conference Board of Canada says Alberta to likely face recession this year 

Prentice says the board’s report is at odds with the projections of all the chartered banks and several other economic forecasters.

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He says those predictions call for only a slippage in Alberta’s economic growth.

More to come…

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