Table of contents

Current issue date

The Alberta Activity Index was updated on January 31, 2023 to include November 2022 data.

Alberta Activity Index

Activity takes a step back in November

  • The Alberta Activity Index (AAX) declined in November after remaining relatively stable for the previous four months.
  • The index inched down 0.4% month-over-month (m/m), as gains in the general business sector were outweighed by declines in household activity.
  • General business activity rose on the back of record high wholesale trade.
  • In contrast, the housing sector dipped amid a sharp pullback in housing starts, which came on the heels of two months of robust gains. This was partly offset by higher retail sales.
  • Activity in the energy sector also ticked down as rigs drilling and oil production retreated marginally on a seasonally adjusted basis in November.
  • Meanwhile, labour sector remained largely unchanged from last month.
  • The AAX remained 5.8% higher year-to-date (YTD).

Chart: Year-over-year change in Alberta Activity Index and real GDP
(to November 2022)

Graph of year-over-year change in Alberta Activity Index and real GDP
Source: Alberta Treasury Board and Finance

Data table

The following file is available in the Open Government Portal:

About the Alberta Activity Index

Developed by Alberta Treasury Board and Finance, the Alberta Activity Index (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, please see "Introducing the Alberta Activity Index" from the April 2017 Economic Trends (PDF, 281 KB).

Sign up for updates

Subscribe to get our economic publications by email


Zoia Komirenko, Economist
Alberta Treasury Board and Finance
Phone: 780-644-0021
Toll free: 310-0000 before the phone number (in Alberta)
Email: [email protected]

Was this page helpful?

All fields are required unless otherwise indicated.

Your submissions are monitored by our web team and are used to help improve the experience on