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The Alberta Activity Index was updated March 31, 2026, to include January 2026 data.
Highlights
Activity advances in January
- The Alberta Activity Index (AAX) rose in January, led by a rebound in the household and labour sector.
- The index rose 0.7% month-over-month (m/m), partially reversing December’s 0.9% m/m decline.
- The household sector led the monthly gain as housing starts accelerated and retail sales jumped.
- Labour market conditions also improved, with average weekly earnings bouncing back to a new high and employment surging.
- In contrast, the energy sector softened on the back of weaker drilling activity and a decline in seasonally adjusted oil production.
- Business activity was also a drag as declines in new truck sales outweighed gains in manufacturing shipments and wholesale trade.
- With the monthly increase, the AAX was up 1.1% year-over-year.
Data table
View the Alberta Activity Index Data Table to find monthly data points for January 1981 to January 2026.
Year-over-year change
Figure 1. Year-over-year change in the AAX and real GDP from 2007 to January 2026.
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]