Alberta could slip back into recession in 2019: Conference Board of Canada

The Conference Board of Canada forecasts trouble for the Alberta economy.

By 660 NEWS STAFF

OTTAWA (660 NEWS) — Alberta could slip back into a recession this year — albeit a small one.

The Conference Board of Canada has revised its forecast for the province, expecting the economy to shrink by 0.1 per cent, instead of growing by just over 1 per cent.

“The difficulties in the energy sector usually are linked to oil prices,” explained Marie-Christine Bernard with the board. “But oil prices have been relatively high these past few months. The difficulty is not so much in terms of oil prices but in the capacity to move oil out of Alberta.”

Bernard says once there is some certainty over Alberta’s ability to get its product to market, investment should return.

RELATED: Alberta keeping federal finances from boiling over: report

Alberta Premier Jason Kenney has reacted to the report, saying the NDP left behind a shrinking economy, which is why his government is so focused on getting Alberta back to work.

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