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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 September 27, 2024 to include July 2024 data.

Highlights

Activity is picking up

  • The Alberta Activity Index (AAX) surged in July.
  • The index advanced 1.5% month-over-month (m/m) with broad-based gains.
  • The business sector led the gain, with recoveries in wholesale, manufacturing, and new truck sales.
  • A rebound in housing starts and retail sales also lifted household sector activity in the month.
  • Labour market also advanced with robust earnings gains.
  • Activities in the energy sector ticked up with strong rigs drilling activity.
  • With the large monthly gain, year-over-year (y/y) growth accelerated to 3.4%, the second highest reading in 18 months.
  • The AAX also improved on a year-to-date (YTD) basis, up 1.7%, supported by larger gains in housing starts and strong growth in the energy sector.

Data table

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

Year-over-year change

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