Alberta economy may soften next year but no crisis
Experts are predicting that there will be a softening of the economy in Calgary and throughout Alberta next year but are not predicting a crisis. Speakers at the Calgary Economic Development’s 2015 Economic Outlook were using words like ‘moderation’ to explain their analysis. ATB Financial’s chief economist Todd Hirsch said that he sees nothing on the horizon that would be a ‘bust’ but the economy would “pullback” maybe by half of one percentage point. Glen Hodgson of the Conference Board of Canada agreed, saying that although lower oil prices are tough for the energy sector the province is still the fastest-growing in Canada and he “wouldn’t be worried at all” about the economy. Speaking of the housing market Hodgson says the Conference Board has no real evidence of a bubble, except perhaps in high-end condos in some areas.