Economic Highlights for the Week of May 11, 2020

Information & Updates

Economic Highlights for the Week of May 11, 2020

A weekly update of Economic Highlights.

Information & Updates

Economic Highlights for the Week of May 11, 2020

Economic Dashboard Indicators Updated This Week

MOTOR VEHICLE SALES

Feb 2020

15,509(new vehicles)

8.1% y/y

Analysis

The number of new motor vehicles sold in Alberta increased by 8.1% between February 2019 and February 2020 to 15,509, while the number of motor vehicles sold in Canada increased by 1.9% over the same period. In Alberta, sales of passenger vehicles decreased by 18.4% year-over-year, while sales of trucks (including minivans, SUVs, light and heavy trucks, vans, and buses) increased by 12.3%. In February 2020, trucks comprised 89.7% of all vehicle sales.
 
Alberta
By Province
By Type of Vehicle

BANKRUPTCIES

Mar 2020

13

-27.8% y/y

Analysis

The number of Alberta business bankruptcies in March 2020 decreased by 27.8% from the same period a year ago, from 18 to 13. The number of Canadian bankruptcies decreased by 37.7% over the same time period. Consumer bankruptcies in Alberta decreased by 16.1%, from 473 in March 2019, to 397 in March 2020.
 
Alberta
By Province
By Type

ACTIVE DRILLING RIGS

Apr 2020

17

-66.7% y/y

Analysis

The average number of active drilling rigs in April 2020 was 17, decreasing by 34 (-66.7%) from April 2019. The number of inactive rigs increased by 3.1% from 322 to 332 over the same period.
 
Alberta
By Type

MANUFACTURING SALES

Mar 2020

$5.8B

-11.1% y/y

Analysis

In March 2020, the value of Alberta's manufacturing sales decreased by 11.1% from March 2019 to $5.8 billion. Food products (+17.3%) was the only category to see an increase, while Petroleum and coal products (-39.1%) had the largest decrease.
 
Alberta
By Province
By Industry

Top Updates on Major Projects This Week

88 Street SE Extension - Calgary - http://majorprojects.alberta.ca/details/88-Street-SE-Extension-Calgary/4118
Extension of 88 Street SE in Calgary, from the Stoney Trail interchange south to 196 Avenue SE.

Apple Tree Co-housing - http://majorprojects.alberta.ca/details/Apple-Tree-Co-housing/4117
Preliminary designs show the vacant Sobeys building in Pincher Creek re-purposed into a co-housing project that will include 24 living units, community space, and more.

Bowness Road Improvements (Montgomery Main Street Project) - http://majorprojects.alberta.ca/details/Bowness-Road-Improvements-Montgomery-Main-Street-Project/4120
Project includes roadway and streetscape Improvements along Bowness Rd NW between 52 St NW to Mackay Road NW. Project to be known as Montgomery Main Street.

Southeast Edmonton Industrial Land Servicing - http://majorprojects.alberta.ca/details/Southeast-Edmonton-Industrial-Land-Servicing/4116
Project will create servicing for industrial land to allow for future development. Details generally include earthworks, site preparation, deep utilities, roadworks, shallow utilities, storm water management facility, erosion and sedimentation [Read More]

Contact

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