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As Canada’s economy continues to perform in a stable manner across many key industries, Alberta continues to perform and will remain at the leading edge of provincial growth rankings in 2013. ATB forecasts 2.5-3.0% growth for Alberta’s economy in 2013. Areas of concern in the province include delays and bottlenecks relating to pipelines, the Bitumen Bubble, increased hydrocarbon production in the U.S. moving them closer down the road to energy self sufficiency, lower Canadian crude oil prices, and a “restraint laden” provincial budget. The result of these impacts is a significant pullback in capital spending in the energy sector. History shows that capital expenditures will “uptick” and investment will return as some of the above noted issues get resolved; all of which will increase demand for Calgary office space when those decisions are made.
Source : Cushman & Wakefield
