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Alberta economy expected to slow in 2019: RBC Economics forecasts the pace of growth to slow to 1.5 per cent in 2019 from 2.4 per cent in 2018. Canada’s economy to face challenges: Canada’s GDP growth expected to drop 0.2 percentage points to 1.7 per cent in 2019. Global expansion to continue, but downside risks are growing: Global economy forecasted to expand by 3.7 per cent, matching the previous two years. TORONTO, Dec. 12, 2018 /CNW/ – Two of Canada’s western provinces are expected to take diverging paths in 2019, according to the latest RBC Economic Outlook Report . Oil production cuts in response to pipeline constraints and volatile oil and gas revenues will contribute to a slow-down in growth for Alberta next year. RBC projects Alberta’s growth to decline to 1.5 per cent in 2019, from 2.4 per cent this year. “The oil production cut could lower GDP growth in Alberta by as much as a percentage point relative to prior assumptions,” said Craig Wright, Senior Vice-President and Chief Economist, RBC. “However, the impact will depend on how prices and inventories respond to the cuts.” Meanwhile, British Columbia’s economy is expected to thrive in 2019. LNG Canada’s $40 […]
