The document provides an analysis of Alberta's economy in October 2017 by Paul Young, CPA, CGA. It includes information on Alberta's GDP, manufacturing sales, oil rigs and commodity prices, oil production in Canada, the job market, government spending, and Alberta's growing fiscal deficit and government debt. While Moody's did not immediately downgrade Alberta's credit rating, the ratings agency expressed concern over the province's rising debt burden and deficits under the NDP government's budget plans.

1. ECONOMY – ALBERTA –
OCTOBER 2017 – ANALYSIS
AND COMMENTARY
BY: PAUL YOUNG, CPA, CGA
DATE: OCTOBER 28, 2017

2. PAUL YOUNG - BIO
• CPA, CGA (1996)
• Financial Solutions (FOPM/FPM)
• SME – Risk Management
• SME – Close, Consolidate and
Reporting
• SME – Public Policy
• SME – Financial Solutions
• SME – Advance Technology and
Market Entry
• SME – Supply Chain Management
• SME – Business Strategy and
Restructuring
Contact information:
Paul_Young_CGA@Hotmail.com

3. AGENDA
• Alberta GDP
• Manufacturing Sales
• GDP
• Oil Rigs and Commodity Prices
• Oil Production / Canada
• Job Market
• Government spending
• Fiscal Update
• Government Debt

4. GDP
• http://economicdashboard.alberta.ca/GrossDomesticProduct

5. MANUFACTURING SECTOR – AUGUST 2017
Source – Stats Canada

6. GDP BY SECTOR
• http://economicdashboard.alberta.ca/GrossDomesticProduct
2014
2017
There is little change in GDP by sector other than Public Administration has
Source - https://www.facebook.com/truecanadafirst/posts/123603496652

7. OIL PRICES/OIL RIGS
• BakerHughes and BMO

8. OIL PRODUCTION / CANADA
Source - https://tradingeconomics.com/canada/crude-oil-

9. EMPLOYMENT / AB
• http://www.torontosun.com/2015/06/25/public-sector-job-growth-stronger-than-private-sector-

10. ALBERTA PER CAPITA SPENDING
Source - http://www.cbc.ca/news/canada/calgary/alberta-bc-budgets-per-capita-

11. MINISTER OF FINANCE – JOE CECI
Source - https://www.theglobeandmail.com/news/alberta/spending-at-alberta-government-agencies-out-of-control-
ceci/article32041864/

12. ALBERTA FISCAL UPDATE
Source – Government of Alberta

13. ALBERTA GOVERNMENT DEBT
Source - http://business.financialpost.com/news/economy/moodys-dbrs-cast-worried-eye-on-albertas-debt-and-
recovery-hopes-based-on-oil
While Moody’s Investor Service did not immediately downgrade the province’s
credit, the ratings agency issued a release Friday showing it was reviewing the
province’s credit profile following the NDP government’s budget
announcement.
The fiscal plan demonstrates a lack of willingness to contain debt growth
“Alberta’s rapidly rising debt burden, protracted deficits and above-inflation
expense growth continue to put significant pressure on its rating,” Moody’s
assistant vice-president Adam Hardi said in the release.