EDMONTON — The Alberta business community is pessimistic about the province's long-term future, with recent Alberta Chambers of Commerce (ACC) data showing a 26 per cent drop in confidence over the past year.
"With the twin challenges of low oil prices and the COVID-19 pandemic, it's not surprising to see business confidence drop in our province," says ACC President and CEO Ken Kobly. "However, the degree of this drop—more than 25 per cent in a single year—really underscores the fact that our business community needs our continued support as the province reopens. This crisis is far from over."
Business confidence declined 20 per cent between July 2019 and March 2020. Since March, confidence has dropped a further 6 per cent—likely due to the ongoing COVID-19 pandemic.