AB leads country in economic growth
Posted May 3, 2012 11:55 am.
This article is more than 5 years old.
Our energy sector is once again contributing to Alberta’s economic growth.
The BMO report credits increased oil and crude bitumen production to pushing our Real GDP to 3.4 per cent this year. The national average growth is projected to be 2 per cent.
“The energy sector continues to drive growth in the province, with oil production up 9.8 per cent in 2011 despite some temporary disruptions,” said Robert Kavcic, Economist, BMO Capital Markets. “Crude bitumen production rose 12 per cent, and the Province is expecting growth of more than 10 per cent annualized in the next three years.”
But, Kavcic says with the good comes the not so good. That strong demand for oil and gas has industry looking for skilled labour to man all the projects on the go.
