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Alberta.ca Account
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 April 30, 2026, to include February 2026 data.

Highlights

Activity holds steady In February

  • The Alberta Activity Index (AAX) was largely unchanged in February.
  • The index ticked down 0.1% month-over-month (m/m), after the strong gain in January.
  • Business activity continued to be a drag, weighed down by declines in new truck sales, manufacturing shipments, and wholesale trade.
  • The household sector also pulled back in the month, as retail sales took a step back and housing starts moderated following January’s partial rebound.
  • In contrast, the energy sector gained momentum, with seasonal record oil production offsetting weaker drilling activity.
  • Labour market conditions continued to improve, with average weekly earnings holding at record highs and outweighing the small decline in employment.
  • With a slight monthly moderation, year‑over‑year growth eased to 1.1%.

Data table

View the Alberta Activity Index Data Table to find monthly data points for January 1981 to February 2026.

Year-over-year change

Figure 1. Year-over-year change in the AAX and real GDP from 2007 to February 2026.

 
*2025 is GDP by Industry; 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, Senior 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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