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The Alberta Activity Index was updated January 6, 2026, to include October 2025 data.
Highlights
Activity slips in October
- The Alberta Activity Index (AAX) pulled back in October after surging in September.
- The index fell 0.6% month-over-month (m/m), with declines across all sectors.
- The labour market sector was the largest contributor to the monthly drop, with lower average weekly earnings offsetting the gains in employment.
- Energy sector activity also weakened, as oil production and drilling were seasonally soft.
- Business sector activity edged lower, with decreases in manufacturing shipments and wholesale trade outweighing a rebound in new truck sales.
- A mild decline was also registered by the household sector, as easing retail sales more than offset gains in the number of housing starts.
- Despite the monthly pullback, year-to-date (YTD) growth in the AAX remained solid at 2.8%.
Data table
View the Alberta Activity Index Data Table to find monthly data points for January 1981 to October 2025.
Year-over-year change
Image 1. The following chart shows year-over-year change in the AAX and real GDP from 2007 to October 2025.
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
Connect with us if you have questions:
Aishwarya Tyagi, Economist
Alberta Treasury Board and Finance
Phone: 780-427-8659
Toll free: 310-0000 before the phone number (in Alberta)
Email: [email protected]