Found 18 blog entries tagged as ATB Financial.

Happiness is banking with ATB.

Rob Roach, ATB Economics | November 25, 2021

   

Moving ahead: Alberta’s economy in 2022

Released this morning, ATB’s latest provincial economic forecast shows that we have come a long way from the early days of the pandemic when GDP activity was in free fall, unemployment was spiking and rumours of a decade-long economic collapse were circulating. From masks to vaccines, we are now able to keep most parts of the economy open most of the time.

With that said, the pandemic is not over and it remains a drag on growth (especially in poorer countries and in…

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Oil and Gas Capital Spending

Rob Roach, ATB Economics 

Oil and gas capital spending better but far from great

As expected, oil and gas extraction capital spending in Canada has improved since the lows reached last year due to the oil price crash and the onset of the pandemic.

Seasonally adjusted spending by oil and gas companies in the second quarter was 46.4% higher than during the same period last year for an increase of $1.8 billion.

There is still some catching up to do with spending over the first half of the year down by 10.3% ($1.3 billion), but forecasts suggest that the difference will be made up over the second half of the year.

…

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Rob Roach, ATB Economics | July 20, 2021

Global Population To Reach 9.7 Billion By 2050

   

It’s a big world out there and it keeps growing. Because our economy is heavily reliant on global trade, this is good news for Alberta.

In light of this, today’s Owl is focused on global population trends.

A key trend of which almost everyone is aware is the massive growth that has taken place. In 1950, the global population was about 2.54 billion. Fast forward to 2020, and it was 7.79 billion, an increase of 207% in 70 years.

A trend that might not be as well known is that the growth rate has actually been…

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Alberta Lose Residents to Other Parts of Canada

Rob Roach, ATB Economics | June 17, 2021


For the fourth quarter in a row, more people left Alberta for other parts of Canada than arrived from elsewhere in the country.

According to the latest population data from Statistics Canada, Alberta lost 3,384 people to other provinces and territories over the first three months of 2021. The net loss since the second quarter of 2020 comes to 7,633.

People move around the country for a wide range of reasons, but Alberta tends to be a net recipient when our economy is thriving and vice versa. Alberta’s economy was the hardest hit among the provinces last year and the unemployment rate was…

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New House Prices On The Rise In Alberta

The average price of newly built homes in Alberta was on a downward trend before the pandemic, but has picked up some steam in recent months.

As of February 2020 (the month before the pandemic was declared), the new home price index for Alberta was 2.6 per cent below where it was in December 2016.

The price index barely moved during the pandemic in 2020, but it did get as low as 3.3 per cent below the baseline set in December 2016.

The index ticked up slightly in each of the first four months of 2021 to reach its highest level in six years. The increase, however, was modest at just 1 per cent above where things stood at the end of 2016.

The paths…

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Best March On Record For Alberta Oil Production

ATB Economics | May 12, 2021


After pulling back in January and February, the volume of daily oil production in Alberta increased by 1.5 per cent in March, averaging 3.62 million barrels per day.

This is the best March on record with year-over-year production up by 1.2 per cent compared to March 2020 and by 4.4 per cent compared to March 2019.

Average daily oil production got as low as 2.89 million barrels in May 2020.

Even with the pandemic still in play in Alberta and around the world, strong oil prices (WTI futures have been above $US60 per barrel since mid-April) and the economic recovery in the U.S. should continue to push up…

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Happiness is banking with ATB.

ATB Economics | March 10, 2021

Policy Interest Rate Stays Put: Bank of Canada

   

The Bank of Canada announced* this morning it is keeping its trendsetting policy interest at 0.25 per cent.

The Bank also announced its quantitative easing program will continue at its current pace of at least $4 billion per week.

Despite signs of economic recovery, the Bank’s “Governing Council judges that the recovery continues to require extraordinary monetary policy support.”

Today’s announcement maintains the stance taken by the Bank in…

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Alberta's Consumer Spending Strong in December But Down In January

Happiness is banking with ATB.

ATB Economics | February 26, 2021


Retailers were hoping for a strong December to help make up for losses earlier in the year due to the pandemic and Alberta consumers obliged.

Average daily consumer spending* in Alberta was up by 2.5 per cent in December 2020 compared to December 2019.

The higher spending in December was not, however, enough to keep annual sales from falling below the 2019 level. Consumers in Alberta spent about 3.7 per cent less last year than in 2019.

Unadjusted consumer spending always falls in January compared…

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Oil Production In Alberta Getting Back On Track

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ATB Economics | February 18, 2021

Oil production in Alberta getting back on track

   

When billions of dollars and thousands of jobs are on the line, “it could’ve been worse” is not what you want to hear. But when it comes to Alberta’s total oil production in 2020, it could’ve been worse.

Between the pandemic, an oil price war, prices slipping into negative territory, ongoing pipeline challenges, lockdowns, travel restrictions and a second wave of the virus, the fact…

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Happiness is banking with ATB.

The Top Economic Stories of 2020 Part 5 of 5

   

After a sluggish 2019, it was hoped that Alberta’s economy would pick up steam in 2020.

Then COVID happened.

The negative economic effects of the pandemic were initially underestimated. COVID-19 was seen by many as a short-term disruption that would be over almost as soon as it began. If only.

Once it was clear the pandemic would be with us for some time, the negative economic effects were overestimated with talk of another Great Depression making headlines.

The economic…

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