Alberta economy to experience slowdown: ATB Financial
Alberta's oil and gas sector is expected to "pivot" toward higher energy exports this year, the Conference Board of Canada says, helping to generate nearly 47,000 new jobs in the province.
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EDMONTON – ATB Financial is predicting a significant slowdown in Alberta’s economy this year.
The bank’s latest economic outlook says the province can expect real GDP growth of zero-point-eight per cent.
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It also says investment in the energy sector is being curtailed by low oil and gas prices, and it forecasts a provincial unemployment rate of six per cent for the year.
READ MORE: Prentice promises to not waver on tough-love budget plan to fix Alberta economy
A-T-B chief economist Todd Hirsch says energy prices will likely start rising by the end of the summer.
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