Alberta Economy Shrugs Off Oil Slump

From Global Edmonton

By Mario Toneguzzi

Most signals on Alberta’s economy dashboard are delivering the same message into 2013: “Things are good,” says TD Economics.

And there’s little surprise why Alberta’s economy outperformed the rest of Canada this year, with key economic indicators such as labour markets, investment indicators and consumer demand expected to remain strong.

Following a projected 3.4 -per-cent gain this year, real GDP is forecast to advance a further 3.0 per cent in 2013 and 3.3 per cent in 2014, just behind Saskatchewan’s pace, according to the Conference Board of Canada.

“For the first half of 2012, we were moving gangbusters. All the indicators were strong … right up until June,” says Ben Brunnen, chief economist with the Calgary Chamber of Commerce.

The start of summer saw oil prices fall and economic turmoil in Greece and other pockets of Europe spin off into the general economy.

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