Doubts that the Albertan economy could reclaim its position as one of Canada’s faster growing provincial economies are dissipating quickly because the wheels of growth are starting to spin faster in the province.
To be sure, not all economic sectors have yet displayed the same pace of recovery—or any recovery at all in some cases—but we believe that the expansion is spreading and will bring wider benefits as 2011 progresses.
The forest fires that tragically destroyed communities and disrupted crude oil production
in May will, fortunately, have only a temporary effect on overall economic performance.
We expect growth to accelerate to a nation-leading 4.3% in 2011 from 3.7% in 2010,
which would be the province’s best showing since 2006.