We are getting what could be described as a preliminary estimate of how the Saskatchewan economy is going to perform in the coming months from another of the major chartered banks.
ScotiaBank is the latest to issue a quarterly update but, unlike most of the others that have been tabled so far, this one looks only at the remainder of this year and 2025.
Normally, they say they would be adding their 2026 forecast in the October update but the uncertainty surrounding the US election has prompted them to delay their extended outlook release. They plan to do it once the dust has settled south of the border.
But they are still offering some insights into where Saskatchewan will end up 2024 and what we should expect next year.
They have a growth target of 1.3-percent this year. That is slightly ahead of the national average. Next year, they project Saskatchewan’s economy will expand by 2-percent which is on par with the national average. They also say we will finish out this year with the second-lowest unemployment and inflation rates among the provinces.
