September 2012 Alberta Economic Fundamentals

[Ally]

Short-term construction expectations postivie for Calgary region







CALGARY ` Short-term expectations for housing starts in the Calgary census metropolitan area are positive, according to the Conference Board of Canada.




But a report released by the board on Friday also said long-term expectations in the region fall into the negative category.






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[Ally]

It pays to work in Alberta





CALGARY ` Alberta has the highest average weekly earnings in the country and in July the province experienced the best month-over-over month growth in earnings in Canada.




Statistics Canada reported Thursday that average weekly earnings in Alberta reached $1,094.85, up 2.5 per cent from June.




It was also up 6.1 per cent from a year ago.




Will van`t Veld, economist with ATB Financial, said stagnant inflation plus rising wages equal a higher material standard of living.






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[Ally]

Rush to liquids backfires for natural gas producers





It was the natural gas industry`s big new thing.




Major producers, long suffering from an industry oversupply of natural gas and ultra-low prices, in the past year or two spent bundles to boost production of obscure energy products such as butane and condensate ` also known as natural gas liquids ` which had been enjoying solid demand and strong prices.






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[Ally]

Ontario finance minister voices support for oilsands





CALGARY ` Ontario`s finance minister was in Calgary on Thursday to declare his province`s enthusiastic friendship and support for Alberta ` and the province`s oilsands.




Dwight Duncan, who spoke at a luncheon organized by the Alberta Enterprise Group, said he had been directed by Premier Dalton McGuinty `to reach out` and his visit was just the first step by Ontario`s Liberal government in building a stronger relationship with Alberta.




McGuinty attracted heat earlier this year for comments decrying the impact of the oilsands on the Canadian dollar and Ontario`s economy.






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[Ally]

Edmonton's job market remains hot, hot, hot




Edmonton's job market is hot stuff, says the city's chief economist John Rose.




Alberta is expected to grow by 4.5% in the next year and Rose says while Edmonton's population growth clocks in a little lower, its job growth continues to boom.




"Job growth in Edmonton is two and a half times that of Canada as a whole," said Rose, who spoke at a meeting of municipal treasurers Thursday in Red Deer, Alta.





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[Ally]

Alberta's economy to end year on upbeat note





CALGARY ` Alberta`s economy is expected to end the year on an upbeat note despite an overall downward revision on its GDP growth forecast for this year, says a report released Thursday by TD Economics.




The report, by senior economist Jacques Marcil, said in Alberta, the vast majority of signals on the economic dashboard are sending the same message: things are good.




And TD is predicting the province will lead the country in economic growth in 2013 and 2014.






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