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Alberta Raises Economic Growth Forecast as Oil Industry Recovers

An employee walks down stairs at an oil production facility in Alberta, Canada.

Photographer: Brent Lewin/Bloomberg

Alberta’s oil-driven economy is growing more than the Canadian province had expected, by a healthy 4 percent this year, as its main industry recovers from a three-year downturn.

The growth forecast, published Tuesday in Alberta’s latest budget update, is up from 2.6 percent in the first report released in March and tops the revised 3.1 percent projection from a fiscal update in August.