Alberta economic strength continues in 2013
Dec 13, 2012
Alberta’s economic continues to be strong in 2013, according to the latest RBC Economics Provincial Outlook released today. RBC forecasts that Alberta will continue to be among the fastest-growing provincial economies in 2013 with a real GDP growth rate of 3.5 per cent, second only to Newfoundland & Labrador’s 4.4 per cent. The Canadian economy is forecast to grow by 2.4 per cent in 2013.
Economic growth for this year is estimated at 3.8 per cent, the best in Canada, following 2011’s 5.1 per cent which also set the pace for the rest of the country. The report said Alberta will benefit from broad-based expansion in 2013, with strong population growth and employment continuing to fuel consumer spending and housing activity showing continued vigour. On the business side, rising demand for commercial and industrial space will support growth in capital spending outside the energy sector.