Encouraging 2011 forecast for Alberta
Posted Dec 28, 2010 3:13 pm.
This article is more than 5 years old.
There is another rather bullish economic forecast for Alberta for the coming year.
The Canadian Chamber of Commerce predicts our province will lead the nation’s recovery out of the recession.
The forecast echoes the predictions of a leading economist.
ATB senior economist Todd Hirsch tells 660News Canada is likely to be second, just behind Germany, in G-7 economic growth in the new year.
He says a lot depends on when the Bank of Canada will raise its key rate.
“They’re still seeing some headwinds in the Canadian economy, primarily driven by weakness in the U.S. economy. I think they’re going to hold off on rate increases until probably summer but after that I think they’ll try to keep those rate increases consistent,” says Hirsch.
He says Alberta, Saskatchewan and B.C. will lead the country in growth but ebbing housing prices will act as a slight drag.
