Published on : Friday, December 28, 2018
To quote ATB chief economist Todd Hirsch, “2018 is shaping up to be a very interesting year, and some dark clouds could be on the horizon.”
Alberta also has its share of global uncertainty with no NAFTA deal yet, a raft of new international tariffs and increasing talk of trade wars.
Hirsch added, “And we just don’t know where this is all going to go.”
Hirsch says rebounds in the energy sector are heavily tied to the pipelinefile.
“What’s holding back the energy sector in 2018, and going into 2019, is the sector’s going to want to see even more certainty around pipeline capacity.”
He cited positive movement on the Trans Mountain pipeline project.
Tourism also provides an economic boost for Alberta.
Hirsch said, “That’s combined with more Canadian, American and international visitors flooding in,” he said. “I think 2018 is shaping up to be probably a third record-setting year for tourism. So that’s good news.”