EDMONTON, AB, Jun 11, 2026 (CNW Group via COMTEX) --
Alberta's economy continues to weather the geopolitical storm better than most, growing faster than the national economy during the tariff shock of 2025. As the country's largest oil producer, it is expected to be the growth leader in 2026 following the recent surge in oil prices stemming from the war in Iran.
ATB Financial's Economic Outlook released today projects Alberta's real GDP will grow by 2.6 per cent in 2026, well above the 2.1 per cent projected in December before the Iran war disrupted global markets. By comparison, the national economy is expected to grow by just 0.8 per cent this year.
Beyond the energy sector, this economic momentum is being supported by persistent population growth. Driven by relative housing affordability and an improving labour market, a steady influx of new residents is leading to more catch-up construction and momentum on consumer spending than elsewhere in the country.
Yet the outlook cautions that this is not a classic energy boom as energy producers are maintaining capital discipline amid ongoing uncertainty over prices, regulations, and future pipeline capacity. On the ground the reality remains complex: households are navigating a steep cost of living, youth unemployment remains high, and hiring is being held back as businesses await clarity on the Canada-United States-Mexico Agreement (CUSMA) which is scheduled for review this summer.Â
"Alberta is moving like a fast car restricted to the slow lane," said Mark Parsons, Vice President and Chief Economist at ATB Financial. "The momentum is clear, with Alberta leading in job gains and consumer activity. However, the trade conflict, ongoing cost of living pressures, and transportation infrastructure constraints are keeping the province from hitting top gear."
Key highlights:
"The top-line numbers tell a story of provincial economic resilience, but the day-to-day reality is that not everyone will feel the benefits," Parsons noted. "Surging fuel and input costs are squeezing both family and business budgets. A growing job market and higher oil prices are providing a cushion, but structural improvements in investment and productivity remain vital to shifting the Alberta and Canadian economy into a faster lane."
For the full report, read the complete Alberta Economic Outlook.
About ATB FinancialPowering possibilities for our clients, communities, and beyond is what drives us at ATB Financial. As a leading Alberta-based financial institution with over $110 billion in total assets and assets under management, our success comes from more than 5,000 team members who deliver exceptional experiences to over 850,000 clients across our Personal and Business Banking, ATB Wealth Management, and ATB Capital Markets businesses. ATB Financial provides expert advice and services through our extensive branch network and agencies, our dedicated Client Care Centre and our digital banking options. ATB Financial is bronze certified as part of the Partnership Accreditation in Indigenous Relations commissioned by the Canadian Council for Indigenous Business. More information about ATB can be found at atb.com.
General Disclosure ATB Financial's Economic Outlook is intended for general information and educational purposes only and should not be considered specific legal, financial, tax or other professional advice or recommendations. Information presented is believed to be reliable and up-to-date but it is not guaranteed to be accurate or a complete analysis of the subjects discussed. All expressions of opinion reflect the judgement of the authors as of the date of publication and are subject to change. The actual outcome may be materially different. ATB Financial and any of its affiliates are not liable for any errors or omissions in the information, analysis or views contained in this report, or for any loss or damage suffered. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by ATB Financial or any of its affiliates and related entities.
For more information or interview requests, please contact:ATB Financial, Media Relations Team media@atb.com
SOURCE ATB Financial
SOURCE: ATB Financial
COMTEX_483690998/2197/2026-06-11T09:00:00
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