Alberta Activity Index

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

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Current issue date

The Alberta Activity Index was updated on April 4, 2024 to include January 2024 data.

Alberta Activity Index

Activity eases but still elevated

  • The Alberta Activity Index (AAX) took a step back in January after a strong performance in 2023.
  • The index declined 0.8% month-over-month as lower activity in the business, energy, and household sectors more than offset an uptick in the labour market.
  • Business activity slipped as new truck sales gave back recent gains and manufacturing shipments and wholesale trade moderated.
  • Activity in the energy sector also eased as oil production posted a seasonal slowdown after record production in previous months.
  • The household sector gave up last month’s gain as housing starts and retail sales retreated from their recent highs.
  • Meanwhile, activity in the labour market continued to climb as employment and earnings advanced.
  • The AAX was largely unchanged year-over-year (y/y).

Chart: Year-over-year change in Alberta Activity Index and real GDP
(to January 2024)

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

Data table

The following file is available in the Open Government Portal:

About the Alberta Activity Index

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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Asrafuzzaman, Economist
Alberta Treasury Board and Finance
Phone: 780-415-8865
Toll free: 310-0000 before the phone number (in Alberta)
Email: [email protected]