Paul Martin Commentary
There is a trend emerging among the major banks when it comes to tracking Saskatchewan’s economy. The latest to join the conversation is TD Bank.
TD tends to be among the more bearish when it comes to Saskatchewan but they’ve lightened up a bit in their new forecast.
They had us second among the provinces last year with growth of 2.6-percent, behind Newfoundland and ahead of Alberta. Basically, it is the oil producers that are doing best in the nation on this projection.
They have us in third spot this year with growth falling to 1.6-percent. Alberta is tops followed by Newfoundland. Then next year we move into second place behind Alberta with growth bouncing back up to two-percent as we outpace the national average in all three years.
They said they are toning down their Saskatchewan forecast because last year’s crop was above average so they are penciling in a return to more normal production although the China tariff story is going to help. Construction, they say, may slow down slightly but the strong labor market is supporting consumer spending.
