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Renata & Ziggy Trawinski
IQ Real Estate
Buying & Selling, Calgary, Alberta
P: 403-208-2368
F: 403-776-6075
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Thursday, November 25, 2010 - Economic Outlook for Alberta

CALGARY - Western Canada will lead the nation in economic growth next year with Alberta just behind Saskatchewan.

Michael Gregory, senior economist with BMO Capital Markets, who is in Calgary today, said Saskatchewan's Real GDP growth rate will be 3.8 per cent in 2011 followed by Alberta at 3.4 per cent and British Columbia at 3.1 per cent. And Manitoba is forecast for 2.7 per cent growth.

All four western provinces will surpass the national average of 2.4 per cent.

"It's very much a story of continuing improvement in commodity markets - apart from natural gas," said Gregory, who was in Calgary speaking at an Economic Outlook 2011 luncheon hosted by the Association for Financial Professionals of Canada (Calgary) at the Calgary Chamber of Commerce.

He said that although the natural gas sector remains "a bit depressed" oil prices will remain firm in the $80 US a barrel range.

Improved consumer confidence and a stronger oilpatch will have a ripple effect through the Alberta economy, added Gregory.

Warren Jestin, chief economist with Scotiabank, concurred that Western Canada will lead the country in economic growth.

"The important thing is the West is leading by orientation toward the commodity markets," he said.

Jestin said Alberta's economic growth next year will be in the 3.5 per cent range while the Canadian average will be in the 2.5 per cent range.

He also said that Saskatchewan, Alberta, British Columbia and Newfoundland would lead the country in economic growth in the next five years.

Source: The Calgary Herald

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posted in Real Estate News at Thu, 25 Nov 2010 20:30:56 +0000

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