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Economic Highlights for the Week of March 11, 2019

Information & Updates

Economic Highlights for the Week of March 11, 2019

A weekly update of Economic Highlights.

Please note: In compliance with the Election Act, publication of Weekly Economic Highlights will cease during a provincial election period.

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Economic Dashboard Indicators Updated This Week

MOTOR VEHICLE SALES

Jan 2019

14,045(new vehicles)

-13.1% y/y

Analysis

The number of new motor vehicles sold in Alberta decreased by 13.1% between January 2018 and January 2019 to 14,045, while the number of motor vehicles sold in Canada decreased by 6.9% over the same period. Sales of passenger vehicles decreased by 32.0% year-over-year, while sales of trucks (including minivans, SUVs, light and heavy trucks, vans, and buses) decreased by 9.3%. In January 2019 trucks comprised 86.9% of all vehicle sales.
 
Alberta
By Province
By Type of Vehicle

MLS SALES VALUE

Feb 2019

$1.2B

-13.6% y/y

Analysis

The dollar volume of homes sold in Alberta through the Multiple Listing Service (MLS) decreased 13.6% to $1.20 billion in February 2019 compared to the same time period a year earlier. Nationally, total sales values were down 9.3%, with British Columbia posting the largest decrease (-33.7%). Quebec had the largest sales increase, up 11.6% to $2.38 billion. In Alberta, Lethbridge (+11.7%) and Fort McMurray (+21.6%) saw sales volume increases, while Calgary had the largest year over-year-decrease (-17.5%).
 
Alberta
By Province
By City

MANUFACTURING SALES

Jan 2019

$6.2B

1.3% y/y

Analysis

In January 2019, the value of Alberta's manufacturing sales increased by 1.3% compared with January 2018, to $6.24 billion. Food manufacturing saw the largest increase, at +15.2%, while petroleum and coal products saw the largest decrease at -14.6%.
 
Alberta
By Province
By Industry

AIR PASSENGERS

Jan 2019

2.0M

4.0% y/y

Analysis

The number of air passengers passing through Alberta's three largest airports increased by 4.0% in January 2019 compared to the same period a year earlier, with 45.4% of those passengers coming through Calgary International as domestic passengers. Fort McMurray domestic passengers had the largest year-over-year drop (-8.3%) compared with January 2018. Edmonton transborder passengers saw the largest year-over-year increase (+9.7%).
 
Alberta
By Flight Type

Top Updates on Major Projects This Week

Edmonton Medical Lab Hub - https://majorprojects.alberta.ca/details/Edmonton-Medical-Lab-Hub/3578
Consolidation of 5 labs in the Edmonton area, much which are currently over capacity. Testing is currently conducted by Alberta Health Services, Covenant Health, and DynaLife. The new medical lab hub will allow all testing to be done under one roof [Read More]

University of Calgary: Interdisciplinary Science and Innovation Centre - https://majorprojects.alberta.ca/details/University-of-Calgary-Interdisciplinary-Science-and-Innovation-Centre/3824
The Interdisciplinary Science and Innovation Centre (ISIC) will provide critical new space for the programming of life and environmental sciences research, along
with existing and planned expansion of teaching and research spaces currently housed [Read More]

Southpark on Whyte - https://majorprojects.alberta.ca/details/Southpark-on-Whyte/3421
Southpark on Whyte would transform a vacant car dealership lot into a series of residential and commercial towers along Whyte Avenue. The project would include two residential high-rise buildings between 17 and 19 storeys high and two low-rise [Read More]

Canadian Solar Solutions Solar Plants - https://majorprojects.alberta.ca/details/Canadian-Solar-Solutions-Solar-Plants/3830
The project will construct three solar plants near the southern Alberta municipalities of Jenner, Tilley, and Hays. The peak output from all three facilities will reach 97 Mw. The contract was awarded under a 4.8 cents per kilowatt-hour agreement.

Contact

For questions about the Weekly Economic Highlights, please contact economiclink@gov.ab.ca