Alberta’s economy is expected to see slight growth in 2020.
ATB Financial released its ‘Alberta Economic Outlook’ last week highlighting a slight increase in the GDP at 0.9 per cent.
This is an increase from the 2019 projection which was set at 0.4 per cent, however, ATB notes the province most likely saw a decrease in economic activity.
The report suggests the lack of pipeline capacity continues to hinder the province.
ATB also believes there will be increased spending next year which should help increase production levels.
“Even though oil production and exports will likely rise next year, the boost to GDP will not be enough to overcome sluggishness in other areas until investment levels improve in 2021,” the report read.
Looking at 2021, ATB is forecasting an increase of 2.1 per cent.