The Alberta Activity Index was updated May 29, 2026, to include March 2026 data.
Highlights
Business activity leads rebound
- The Alberta Activity Index (AAX) increased in March to near all-time highs.
- The index increased by 0.6% month-over-month (m/m), approaching its November 2025 peak.
- Business activity turned positive and led the AAX rebound, driven by a recovery in wholesale trade, record manufacturing shipments, and a modest rise in new truck sales.
- The household sector also increased in the month as a rebound in retail sales more than offset continued moderation in housing starts.
- Both the labour market and energy sector activity remained essentially flat, with employment, earnings, oil production, and drilling activity all holding steady.
- With the monthly gain, year-over-year growth accelerated to 1.5%.
Note: The Alberta Activity Index (AAX) underwent its annual revision in May 2026, and the current data incorporates the updates.
Data table
View the Alberta Activity Index Data Table to find monthly data points for January 1981 to March 2026.
Year-over-year change
Figure 1. Year-over-year change in the AAX and real GDP from 2007 to March 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.
Sign up for updates
Subscribe to get our economic publications by email
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]