Economic Highlights for the Week of June 15, 2020

Information & Updates

Economic Highlights for the Week of June 15, 2020

A weekly update of Economic Highlights.

Information & Updates

Economic Highlights for the Week of June 15, 2020

Economic Dashboard Indicators Updated This Week

POPULATION

Q2 2020

4.4M

1.8% y/y

Analysis

In Q2 2020, Alberta's population reached 4.43 million, up 77,346 or 1.8% from Q2 2019. The national growth rate was 1.5% over the same period, with PEI leading provincial growth at 2.0%.
 
Alberta
By Province

NET MIGRATION

Q1 2020

9,326

1.8% y/y

Analysis

In the first quarter of 2020, net migration into Alberta totaled 9,326, compared with a net inflow of 9,165 in the same quarter of 2019, an increase of 1.8%. Net inter-provincial migration into Alberta was +3,123 in the first quarter of 2020, up from +1,974 a year earlier. Net international migration was 6,203, decreasing 13.7% from 7,191 net international migrants entering Alberta a year earlier. Nationally, net migration decreased 24.0% in the first quarter of 2020 compared to the same time last year.
 
Alberta
By Province
By Type

CONSUMER PRICE INDEX

May 2020

144.1

0.1% y/y

Analysis

On a year-over-year basis, Albertans paid 0.1% more in May 2020 for the goods and services that comprise the Consumer Price Index (CPI) than in the same month a year ago, while the national average CPI was down 0.4%. In Alberta, Food had the largest increase (+3.9%), while energy (-15.6%) and transportation (-2.2%) decreased the most.
 
Alberta
By Province
By Type

RETAIL TRADE

Apr 2020

$4.8B

-30.5% y/y

Analysis

Alberta's retail trade value decreased by 30.5% in April 2020 compared to April 2019, to $4.8 billion. Nationally, retail sales decreased by 32.5% over the same time frame. In Alberta, food & beverages (+14.5%) saw the only increase, while clothing and accessories had the largest decrease (-89.0%). These figures reflect pandemic shutdown orders.
 
Alberta
By Province
By Product

MANUFACTURING SALES

Apr 2020

$4.7B

-30.4% y/y

Analysis

In April 2020, the value of Alberta's manufacturing sales decreased by 30.4% from April 2019 to $4.7 billion. All industries saw a decrease, while Petroleum and coal products (-69.1%) had the largest decrease.
 
Alberta
By Province
By Industry

SOFTWOOD LUMBER PRODUCTION

Feb 2020

774,200(m3)

20.7% y/y

Analysis

Alberta lumber shipments increased 20.7% to 774,200 cubic metres in February 2020 compared to February 2019. Nationally, lumber shipments increased by 1.9% to 4.6 million cubic metres when compared with the same period last year.
 
Alberta
By Province

WHOLESALE TRADE

Apr 2020

$6.2B

-17.0% y/y

Analysis

In April 2020, the value of Alberta wholesale trade decreased by 17.0% to $6.2 billion compared to April 2019. Nationally, wholesale trade decreased by 23.4% over the same time period.
 
Alberta
By Province

Top Updates on Major Projects This Week

Lowes Distribution Warehouse - http://majorprojects.alberta.ca/details/Lowes-Distribution-Warehouse/4113
Construction of a new 1.24-million square foot warehouse distribution centre to serve as a logistical hub for Lowe's Canada. The building will be located in Rocky View County's High Plains Industrial Park, and will be denoted as building [Read More]

Brooks Solar 2 Power Plant - http://majorprojects.alberta.ca/details/Brooks-Solar-2-Power-Plant/4144
The Brooks Solar 2 project is an expansion of the phase 1 development. The project will use 81,000 solar modules to build 26.5 Mw of energy capacity.

The project was approved by the AUC in February 20202, and a permit has been issued by Newell [Read More]

Blackfalds Multi-Plex Expansion Project - http://majorprojects.alberta.ca/details/Blackfalds-Multi-Plex-Expansion-Project/3920
The expansion project will see the addition of a second ice rink, which will include seating for over 1200.

The project was approved by council on May 26, 2020. Construction is scheduled to begin in June 2020.

Bearspaw Water Treatment Plant - Filter Pipe Gallery Upgrades - http://majorprojects.alberta.ca/details/Bearspaw-Water-Treatment-Plant-Filter-Pipe-Gallery-Upgrades/4145
Project will include a number of upgrades to the filter pipe gallery in the Bearspaw Water Treatment Plant.

Contact

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