It feels like old times with Alberta leading Canada economically. We are all very excited to see what 2014 will bring.
"Canada's oil-rich Alberta has come out of the global recession
virtually unscathed, and the winning streak isn't over. Fuelled by the
oil sands industry, Alberta will again be Canada's fastest growing
economy in 2014.
Over the past few years, Canada has seen a two-tiered economy in
which resource-rich provinces consistently outperformed the rest of the
country. For three consecutive years, Alberta has been the largest
contributor to economic expansion in Canada, with the energy sector
fuelling virtually all the growth. In 2013 Alberta's GDP is projected to
rise by 3.2% and slightly more over the following year.
According to the latest Provincial Outlook report
from the Conference Board of Canada, Alberta's economy has "remained
resilient" despite $1.7 billion in damages from flooding this past
summer. The Board cautions that pipeline constraints remain a risk, as
more bitumen will need to make its way to markets. Over the near term,
however, existing capacity should do."
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