The Alberta Activity Index was updated June 26, 2026, to include April 2026 data.
Highlights
Business and energy activity drive gains
- The Alberta Activity Index (AAX) jumped in April, led by gains in the business and energy sectors.
- The index rose 1.4% m/m to reach a new high.
- Strength in the business sector was concentrated in a strong rebound in manufacturing shipments.
- Growth was also supported by seasonally strong activity in the energy sector, with both oil production and rigs drilling stronger than usual for April.
- The household sector continued to expand, as ongoing growth in consumer spending more than offset the slowdown in housing starts.
- Labour market conditions improved, with employment holding steady and average weekly earnings posting their largest monthly increase in six years.
- Compared with a year ago, the AAX was up 1.8% led by growth in the labour market.
The impact of manufacturing shipments on the AAX and overall activity is likely overstated, as recent price gains for manufactured products have exceeded the increase in the CPI, which is used to deflate all indicators.
Data table
View the Alberta Activity Index Data Table to find monthly data points for January 1981 to April 2026.
Year-over-year change
Figure 1. Year-over-year change in the AAX and real GDP from 2007 to April 2026.
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, Senior Economist
Alberta Treasury Board and Finance
Phone: 780-427-8659
Toll free: 310-0000 before the phone number (in Alberta)
Email: [email protected]