Conference Board of Canada predicts strong economic recovery for Alberta after COVID-19
![Alberta economy Alberta economy](/content/dam/ctvnews/en/images/2019/4/30/alberta-economy-1-4402638-1627393933578.jpg)
With the COVID-19 vaccine rollout steadily underway, Canadians can start to look forward to their world returning to normal — which means good things for the economy.
The Conference Board of Canada is forecasting a 6.1 per cent increase in real gross domestic product (GDP) in 2021, and a further increase of 3.5 per cent real GDP in 2022, according to a report released Monday.
Alberta is expected to have the among the strongest recoveries as resource production and manufacturing begin to resume normal operations – and global gas prices stabilize after a major downturn in 2020 and early 2021.
Overall, Alberta's real GDP is expected to increase by 7.2 per cent this year and another 5.6 per cent in 2022 – well above the national average.
Each province will see its own version of economic recovery, with provinces that had fewer COVID-19 cases likely seeing a quicker recovery — look to Prince Edward Island as a likely example of this.
COVID-19 vaccinations are another contributing factor in the equation. The more people that are fully vaccinated in each province means a better chance of each staying open.
"Strong activity in the resource sector, manufacturing, and construction has allowed for an upward revision to our growth forecast for 2021 from what we released in our spring Canadian outlook," said Pedro Antunes, chief economist at the Conference Board of Canada.
Manufacturing across the country accounts for almost $174 billion in GDP per year — more than 10 per cent of Canada's total, which contributes 1.7 million jobs, according to Canadianvisa.org.
Mining, oil and gas and machinery manufacturing employs close to 10 per cent of Alberta’s total work force.
The majority of Canadian resource production is done in Alberta — a total of 63 per cent of all manufacturing facilities are located in this province — according to Canadianvisa.org.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6971466.1721473775!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
investigation Prominent Vancouver lawyer accused of moving criminal cash dies before hearing
Vancouver lawyer Michael Bolton likely defended thousands of people over 50 years of practice. But in the end, he would not get a chance to defend himself.
The latest on the global tech outage: Airlines rush to get back on track after IT disruption
Transport providers, businesses and governments on Saturday are rushing to get all their systems back online after long disruptions following a widespread technology outage.
Quebec woman's death warns of dangers of cosmetic surgery abroad
Brian McConnell's daughter, Florence McConnell, died after a liposuction surgery complication in Morocco. Now, he warns others against undergoing cosmetic surgeries abroad.
12 injuries reported from steam cleaners that spew hot water: Here are the recalls of the week
Health Canada issued recalls for various items this week, including steam cleaners, hedgehog pet food and kids' bike helmets.
Gun-control group fears Liberals have 'abandoned' efforts on assault-style firearms
A prominent gun-control group fears the Liberal government has abandoned its commitment to enact a comprehensive ban on assault-style firearms, citing "no tangible progress" on key steps to fulfil the pledge.
Social media prank could lead to charges after teens allegedly damage homes
A well-known childhood prank known as 'nicky nicky nine doors,' or 'ding dong ditch,' has escalated into a more serious game that could lead to charges for some Surrey, B.C. teens.
Trump returns to the campaign trail in Michigan with his new running mate, Vance, by his side
Republican Donald Trump on Saturday will hold his first public campaign rally since he was injured in an assassination attempt, with an event in the battleground state of Michigan alongside his new running mate.
Toronto fire crews rescue two workers buried in trench
One worker has been rescued, and fire crews are working on freeing the other after the two were buried in a trench in the city’s Weston neighbourhood.
opinion Trump's assassination attempt not a political winner
Danger and fear are so pervasive throughout the national political ethos it is now the norm, writes Washington political columnist Eric Ham.