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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.

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The Alberta Activity Index was updated October 29, 2026, to include August 2026 data.

Highlights

Activity rebounds

  • The Alberta Activity Index (AAX) edged higher in August, partially recovering from July's pullback.
  • The index rose 0.2% month-over-month (m/m), led by stronger labour market activity. Average weekly earnings rose for a third consecutive month, more than offsetting softer employment.
  • The household sector also strengthened, as housing starts rebounded after 2 monthly declines, while retail sales were little changed.
  • In contrast, business sector activity declined, with lower manufacturing shipments and new truck sales outweighing gains in wholesale trade.
  • Seasonally adjusted energy sector activity also edged lower for a third straight month. Both oil production and rigs drilling activity eased in August but remained at seasonal records.
  • Year-to-date (YTD), the AAX was up 2.9%, reflecting broad-based gains across sectors.

Data table

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

Year-over-year change

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