The art of economic forecasting is just that – an art. And not all art is created equally.
A good case in point is the latest forecast from the Conference Board on how the various regions of the country will fare this year and next.
Saskatchewan generally ranks in the top half among the provinces in most quarterly economic forecasts from outfits such as the chartered banks. But the Conference Board has a profoundly different view…they see us at the bottom of the pack this year.
They suggest Saskatchewan’s economy will grow about six-tenths of a point this year…still growing and out of recession territory but with a sluggish performance compared to Newfoundland which tops its list.
They say the first half of the year started slowly while they expect a much stronger second half with the Jansen project injecting fresh capital into the economy. And uranium has found its way into favor with recent support for nuclear power in the climate change fight.
But, while this year might be soft, next year will see a significant rebound with growth at 2.6-percent…tops in Canada.
