Current issue date

The Alberta Activity Index was updated on November 3, 2023 to include August 2023 data.


The June, July and August values of the oil production component of AAX were estimated using alternate data source on oil sands production. The series will be revised once the Alberta Energy Regulator (AER) updates its historical data to reflect actual production.

Alberta Activity Index

Activity gained momentum

  • The Alberta Activity Index (AAX) increased for two successive months.
  • The index increased 1% month-over-month (m/m) in August following a similar gain in July.
  • Activity in the business sector accelerated as manufacturing shipments and new truck sales picked up even as wholesale trade remained muted.  The energy sector edged upward as an increase in estimated oil production was partially tempered by a decrease in rigs drilling.
  • Modest gains in housing starts and retail sales also propped up the household sector.
  • Meanwhile, activity in the labour market cooled down as a decline in average weekly earnings offset a modest increase in employment.
  • AAX moved closer to the historical high reached in May and was up 1% year-over-year (Y/Y) and 1.5% Year-to-Date (YTD).

Chart: Year-over-year change in Alberta Activity Index and real GDP
(to August 2023)

Graph of the Alberta Activity Index
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 Alberta Activity Index (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, please see "Introducing the Alberta Activity Index" from the April 2017 Economic Trends (PDF, 281 KB).

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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]

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