Alberta Economic Briefs This Week

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• HOUSING STARTS •

In Alberta, urban housing starts totalled 2,786 in August 2018, a year-over-year increase of 27.3 per cent. Canadian starts decreased by 12.6 per cent during the same time period. In Alberta, all unit types decreased, except for apartments which grew 414.4 per cent year-over-year.


• BUSINESS INCORPORATIONS •

In August 2018, the number of businesses incorporated in Alberta totalled 3,508, an increase of 1.9 per cent from the same period last year. Alberta incorporations were up 5.3 per cent at 3,270 while non-Alberta incorporations fell to 328, down 2.7 per cent from last year.


• RETAIL TRADE •

Alberta retailers saw an increase of 2 per cent to $6.9 billion in consumer purchasing in year-over-year at June 2018 month-end.


• OIL PRODUCTION •

Oil production in Alberta was up 5.9 per cent in July 2018 at 16.7 million cubic metres, compared to July 2017. Oil sands (non-conventional) production sat at 83.4 per cent of all provincial oil production in July. Non-conventional oil production was up 7.9 per cent, while conventional decreased 4.8 per cent on the year-over-year.


• BANKRUPTCIES •

Alberta business bankruptcies were unchanged at 12 from June 2017 to June 2018. Nationally, business bankruptcies decreased 13.3 per cent to 196. Consumer bankruptcies in Alberta increased 2.3 per cent to 445 in June 2018.


• UNEMPLOYMENT RATE •

Statistics report that the Alberta unemployment rate is down to 6.7 per cent, a decrease of 1.4 per cent in year-over-year reporting at the end of August. 

                                                          Source: Alberta Economic Briefings

Posted on:
Monday, September 17, 2018