Downtown Lethbridge. (Lethbridge News Now)

By David Opinko

Pre-COVID, Alberta’s GDP grew just 0.1 per cent in 2019

Nov 9, 2020 | 10:12 AM

LETHBRIDGE, AB – Even prior to the COVID-19 pandemic, Alberta’s economy was struggling to grow.

A new report from Stats Canada, real gross domestic product (GDP) nation-wide rose 1.9 per cent in 2019 with every province and territory except Saskatchewan and Northwest Territories experiencing at least some overall progress.

Households were saving on average 1.4 per cent of their income while the debt service ratio was at 7.46 per cent.

After increasing by 1.9 per cent in Alberta in 2018, the provincial economy was up just 0.1 per cent last year.

Some of the factors include sharp drops in housing investments (-8.4 per cent) and business investments in non-residential structures (-9 per cent).

Nighttime construction on Hwy 3 in Lethbridge starts April 17

Apr 17, 2025

SASHA launches #BuyABed fundraiser to support vulnerable Lethbridge residents

Apr 04, 2025

$20K grants available: TELUS STORYHIVE Pan-Asian Edition opens applications April 1

Mar 18, 2025

Declines in mining, quarrying, and oil and gas extraction held Alberta’s GDP down as well.

That was counterbalanced by a one per cent rise in exports and a 1.2 per cent increase in household spending on services.