This afternoon I attended The BDC Economic Outlook: A forecast of the Canadian and Albertan Economies, sponsored by the Lethbridge Chamber of Commerce. Pierre Cléroux, BDC Vice President and Chief Economist, offered a concise and thorough overview of where we’ve been and where we might be going, provincially and as a nation.
The key message throughout the talk: Canada must leverage its prowess as a country that “exports quality,” with a keen focus on emerging economies. It would seem that Alberta is poised to support that growth by way of low unemployment, net in migration, and commodity prices buoyed by increasing global demand.
The Outlook on Alberta Real Estate …
I asked Cléroux about this. He said that while Alberta will continue to be strong on real estate for the immediate future, Albertans are some of the most indebted Canadians, second only to British Columbia. Therefore, prices will indeed hit a ceiling, if not correct at some point. When that will happen cannot be predicted.
The Outlook as it Relates to Lethbridge …
Cléroux said that while he is not an expert on Lethbridge specifically, he did feel that ag-based exports to the emerging economies will be important to this city’s economic growth.
You can read highlights from Cléroux’s presentation below, which I recorded live on my twitter feed: