One Fifth Of Albertans Think The Economy Is Going To Get A Lot Worse

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According to the latest investor beat survey from ATB, 52% of all Albertans have been feeling all the effects of the lower oil prices from around the world. This is up from the earlier 49% which it was at just three months ago. There are a number of Albertans who have been forced to continue adjusting the ways in which they spend money as a result of this.

Here are a few of the highlights from this survey:

  • 46% of the Albertans have said that they have reduced their spending.
  • 23% of them have said that they were forced to change their plans for vacations.
  • 19% of them have been forced to push back major purchases.
  • 17% of them have put a stop to some of the regular contributions they were earlier making to their investments and savings.
  • 21% of the Albertans currently believe that their country’s economy is going to get much worse over the next 6 months. This is lower than the 26% who believed the same thing in the previous survey.
  • 34% of the respondents to this survey have said that the province’s economy was going to get much worse in the next six months. This too is down from 44% where it was three months ago.
  • Millennials, in the age group of 18-34, are far more optimistic when it comes to their opinion on investing or saving.

Over half of the Albertans who were surveyed this time around believe that now is a very good time for them to start saving while around 20% of them are saying that this is the best time for them to start investing. Men, at 26%, are far more likely, than women, at 15%, to have positive views when it comes to investing at the present time.