Quarterly economic forecasts now made in Alberta

EDMONTON, April 15, 2014 /CNW/ - For the first time, a financial institution is releasing a regular economic forecast specific to Alberta. ATB Financial's economics team is now making its quarterly forecasts—originally created to provide ATB team members greater insight into the province's economic conditions—public.

It's all about sharing a wealth of economic knowledge for the benefit of all Albertans.

"The more voices adding to the range of economic forecasts, the richer our understanding of the risks and opportunities that lie ahead," says Todd Hirsch, Chief Economist at ATB Financial.

"That's why ATB is making public its quarterly economic forecast, starting with today's release."

Highlights of ATB's second quarter economic forecast for Alberta include:

• Alberta to lead provinces with real GDP expansion of 3.8 per cent this year
• Alberta's labour market will remain balanced with 4.6 per cent unemployment
• Stable oil prices and recovering natural gas prices will support energy sector
• Strong in-migration will lift retail and housing sectors
• Non-residential construction and agriculture will be strong contributors

"Alberta is bucking the sluggishness of the national economy," says Hirsch.

"Momentum is expected to pick up modestly in 2014, led by a strong labour market, consumer confidence, in-migration, and decent results in the energy sector."

For the complete ATB Financial economic forecast for Alberta, please click here.

SOURCE: ATB Financial

Todd Hirsch, Chief Economist, ATB Financial, Cell: 403.815.2277, email: [email protected]