Recession unavoidable for Alberta this year – Conference Board

Despite oil prices having seemingly stabilised, oil- and-natural-gas-producing Alberta's economy was headed for an overall decline in real gross domestic product this year, The Conference Board of Canada's ‘Provincial Outlook: Spring 2015’ found. The economy of the western Canada province was expected to contract by 0.7% this year, with growth expected to resume next year, albeit at a moderate 1.1%.