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Challenges remain, but momentum building in Alberta economy
EDMONTON - Two years after the Great Recession ended, Alberta's energy-fuelled economy is again flexing its muscles.
With oil prices tripling from their 2009 lows, drilling activity on the upswing, unemployment falling and oilsands investment surging, Alberta looks poised for a new growth supercycle.
In fact, compared with the beleaguered U.S., the debt-ridden economies of Europe or the sluggish growth in Ontario and Quebec, Canada's energy superpower looks like a rising star once again.
Just don't call this new growth cycle a boom - at least not yet. There are still nagging patches of weakness and some serious challenges ahead, both from within and beyond Alberta's borders. To wit: The U.S. recovery remains fragile, China's supercharged economy is slowing, and the 27-month-old bull market in equities looks as if it may be running out of gas.
Read the full article here.
EDMONTON - Two years after the Great Recession ended, Alberta's energy-fuelled economy is again flexing its muscles.
With oil prices tripling from their 2009 lows, drilling activity on the upswing, unemployment falling and oilsands investment surging, Alberta looks poised for a new growth supercycle.
In fact, compared with the beleaguered U.S., the debt-ridden economies of Europe or the sluggish growth in Ontario and Quebec, Canada's energy superpower looks like a rising star once again.
Just don't call this new growth cycle a boom - at least not yet. There are still nagging patches of weakness and some serious challenges ahead, both from within and beyond Alberta's borders. To wit: The U.S. recovery remains fragile, China's supercharged economy is slowing, and the 27-month-old bull market in equities looks as if it may be running out of gas.
Read the full article here.