By Canadian Press

ECONOMIC REBOUND

TD Economics suggests Alberta economy gaining momentum

Jul 17, 2019 | 7:18 AM

EDMONTON- A report from TD Economics says the Alberta economy is gaining some traction after it was hit by extreme oil price weakness late last year.

It says rising oil exports, stronger wholesale and manufacturing shipments and a jump in small business confidence suggest the province’s economy appears to have started growing again in recent weeks.

The report also cites an improvement in the jobless rate along with more upbeat trends in Alberta’s stalled retail sales and housing sectors.

But the bank says it remains cautious about upgrading its June outlook forecasting the Alberta economy would grow by 0.5 per cent this year and a slightly better 2.1 per cent next year.

(The Canadian Press)

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