Economic News/Trends and Analysis — February 1, 2010
Albertans worried about debt and job security, according to RBC Canadian Consumer Outlook
Optimism about an improved Canadian economy remains highest in the country
The survey also found that job anxiety in Alberta has risen to 31 per cent, from 28 per cent in December and remains among the highest levels in the country. Job anxiety is up in every province and nationally, one-in-four Canadians (26 per cent) say that a member of their household is worried about losing their job or being laid off, up significantly from one-in-five (21 per cent) in December.
"Some Albertans are feeling anxiety over their debt and job security, but we're still the most optimistic in the country about the Canadian economy over the next year," said Bruce MacKenzie, regional president, Alberta and the Territories, RBC. "Developing and sticking to a financial plan is the best route to peace of mind and a secure future."
Other provincial highlights include:
National Economy: Albertans continue to have an optimistic outlook on the
current Canadian economy with more than half (55 per cent) rating it as
good, seven per cent higher than the national average of 48 per cent.
That optimism carries over to the coming year, with 64 per cent of
Albertans expecting the Canadian economy to improve in the next twelve
months, the highest level in the country and compared to 56 per cent
nationally.
- Personal Financial Situation (Overall): When it comes to their
personal financial situation, four-in-ten (43 per cent) Albertans
feel their situation has worsened in the last three months, compared
to just 29 per cent in December. Looking ahead, close to
half (47 per cent) of Albertans believe that their own financial
situation will improve over the next year, similar to the national
average (45 per cent). Nearly seven-in-ten Albertans (69 per cent)
say that they will delay major purchases, a rise of 22 points since
December and 13 points higher than the national average.
- Local Economy: One-in-three Albertans (33 per cent) believe that
their local economy will improve over the next three months, compared
to the national average of 28 per cent. While this figure is down
nine percentage points from December (42 per cent), Alberta residents
are the most positive in the country when it comes to prospects for
their local economy during this time period.
"Our current growth forecast for Alberta is 2.6 per cent in 2010, rising to 4.4 per cent in 2011," said
About The RBC Canadian Consumer Outlook Index
The RBC Canadian Consumer Outlook Index, benchmarked as of
For further information: Rina Cortese, RBC Corporate Communications, (416) 974-6970; Gillian McArdle, RBC Media Relations, (647) 400-8464
Latest Industry Press Releases
Updated 18:03 MDT, September 2, 2010 
Construction/Building
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RioCan REIT Announces $124.5 Million Public Offering of Trust Units (2010-08-30)
Large JJM Construction Ltd. consignment in next Ritchie Bros. Chilliwack auction (2010-08-30)
Empire Industries Reports 2010 Second Quarter Results, Appointment of Independent Board Chair (2010-08-30)
Canadian Equipment Rental Fund Limited Partnership Results for the Second Quarter 2010 (2010-08-27)
Aecon announces closing of Cow Harbour asset purchase and launch of new Aecon Mining business (2010-08-27)
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Tribute Communities Links Past and Future With Cornerstone Ceremony at RCMI Condominium (2010-08-27)
CanWel Building Materials Announces Appointment (2010-08-26)
Stantec to Significantly Increase Architecture Practice With the Planned Acquisition of Anshen Allen (2010-08-26)
Allied Properties Real Estate Investment Trust Announces $50 Million Public Equity Offering (2010-08-26)
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