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Part of Economy and investment

Alberta Activity Index

The Alberta Activity Index (AAX) closely tracks economic activity using a weighted average of 9 monthly indicators.

The Alberta Activity Index was updated on November 29, 2024 to include September 2024 data.

Highlights

Activity eased but remained elevated

  • The Alberta Activity Index (AAX) continued to ease in September.
  • The index edged down 0.1% month-over-month (m/m) due to a moderation of activity in the energy and business sectors.
  • The energy sector moved down with oil production retreating from recent highs as facilities underwent maintenance.
  • Business sector activity fell due to ongoing weakness in manufacturing sales that overwhelmed a rebound in wholesale trade.
  • Conversely, household sector activity expanded, supported by robust retail sales.
  • The labour market continued to advance with higher earnings, although employment moderated.
  • Despite inching down in the month, the AAX is up 1.8% year-over-year (y/y) and 2.0% year-to-date (YTD).

Data table

View the Alberta Activity Index Data Table to find monthly data points for January 1981 to September 2024.

Year-over-year change

The following chart shows year-over-year change in the Alberta Activity Index and real GDP from 2004 to September 2024.

Chart: Year-over-year change in Alberta Activity Index and real GDP
Source: Alberta Treasury Board and Finance

Alberta Activity Index indicators

Developed by Alberta Treasury Board and Finance, the AAX is a weighted average of 9 monthly indicators:

  • employment
  • average weekly earnings
  • retail trade
  • wholesale trade
  • manufacturing shipments
  • new truck sales
  • housing starts
  • rigs drilling
  • oil production

For more information on the AAX, see "Introducing the Alberta Activity Index" from the April 2017 Economic Trends.

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Contact

Asrafuzzaman, Economist
Alberta Treasury Board and Finance
Phone: 780-427-8659
Toll free: 310-0000 before the phone number (in Alberta)
Email: [email protected]

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