In 2018, non-residential capital investment in Alberta increased by 0.5% from 2017 to $60.5 billion. Spending on machinery and equipment increased by 0.9%, while construction spending increased 0.3%. The marginal overall growth in investment was tempered by lower mining, quarrying, and oil and gas extraction investment, which fell 4.2% to $28.2B billion, while manufacturing increased 58.0% to $2.8B. Major sectors with the highest investment growth in 2018 were arts, entertainment and recreation (up 41.3%), accommodation and food services (up 26.1%), and health care (up 24.3%).
In 2018, Alberta's per capita investment spending was $14,051, the highest spending of all provinces, and more than two times the Canadian average of $6,636 per capita.
In 2019, Alberta investment is forecast to drop by 1.3% from 2018 to $59.7 billion (based on investment intentions for 2019), with a 3.0% decline in investment intentions in the oil and gas extraction industry. Construction spending is expected to decline 0.9%, while spending on machinery and equipment is expected to decline 2.7%. Investment in manufacturing is expected to see the strongest growth in 2019, increasing 31.5% to $3.7 billion, the highest since 2006, when this data series begins. Large increases are expected in chemical (up 89.2%), wood product (up 37.0%), and primary metal (up 26.0%) manufacturing. Large declines are expected for mining and quarrying - except oil and gas (down 32.7%), petroleum and coal products manufacturing (down 26.1%), and for educational services (down 24.2%).