ALBERTA Boom is Back!! via@calgarysun #yeg #yegre #shpk #strathco #yyc
The boom is back, bank says | Alberta | News | Calgary Sun By Jenna McMurray ,Calgary Sun First posted: Tuesday, March 20, 2012 08:06 PM MDT Oil is the grease and one of Canada’s major banks says Alberta’s economic engine is running smoothly enough to call the current upswing a boom. A report from RBC Economics says Alberta’s economy launched into a “remarkable expansion phase” in 2011, with real GDP reaching an estimated 4.2%, and the momentum expected to continue in 2012-13 at 3.9%. “We’re expecting strong investment in terms of oil production and pipeline,” said Paul Ferley, assistant chief economist with RBC. “Alberta is expected to be one of the leaders in overall growth (in 2012).” The national average for GDP growth last year was 2.5% while it’s expected to remain similar at 2.6% for 2012-13, said Ferley. Last year, while still considered a leader in growth, Alberta was edged out slightly by Saskatchewan — benefitting from potash and high gra...