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Energy sector bolsters `solid` Alberta GDP forecast
OTTAWA - A rebounding energy sector will deliver solid — but slower — economic growth in Alberta next year, the Conference Board of Canada said Tuesday.
The provincial real GDP is forecast to expand by a "solid" 2.8 per cent, down modestly from the rate of growth in 2010.
"Bolstered by a swift rebound in oil drilling and a turnaround in the domestic economy, Alberta`s real GDP is expected to grow by 3.6 per cent in 2010," the board said.
Next year, "the energy industry will keep the goods-producing sector growing at a quick enough pace to offset another year of modest performance among services industries."
Nationally, ebbing strength in Canada`s domestic economy will curb growth in all but Saskatchewan and Manitoba in 2011, the board warned.
Read the full article here.
OTTAWA - A rebounding energy sector will deliver solid — but slower — economic growth in Alberta next year, the Conference Board of Canada said Tuesday.
The provincial real GDP is forecast to expand by a "solid" 2.8 per cent, down modestly from the rate of growth in 2010.
"Bolstered by a swift rebound in oil drilling and a turnaround in the domestic economy, Alberta`s real GDP is expected to grow by 3.6 per cent in 2010," the board said.
Next year, "the energy industry will keep the goods-producing sector growing at a quick enough pace to offset another year of modest performance among services industries."
Nationally, ebbing strength in Canada`s domestic economy will curb growth in all but Saskatchewan and Manitoba in 2011, the board warned.
Read the full article here.