Economic outlook calls for slower, but healthier growth
Alberta is in for a year of growth, but not one residents may be accustomed to.
That was the main message at the Sheraton Hotel Red Deer on Tuesday where the Conference Board of Canada hosted one of its Western Business Outlook Conferences.
Todd Hirsch, Chief Economist with ATB Financial said it’s a fantasy to think five per cent growth year after year is a good thing. The 2.7 per cent projected for 2018 will provide for a much healthier and stable economy, he says.
“Sometimes growth can be too fast, especially when it’s all focused around the energy sector. It’s great for the energy sector when prices are high, but when prices come down, we find there are a lot of imbalances baked into the economy.”