We’re getting a flurry of year-end economic growth forecasts in the run-up to the Christmas break which provides some flavor for how the various agencies see the market these days.
The chartered banks are among those with new estimates and it is interesting to see how they all look at the same data but come away with different perspectives.
Earlier this week, RBC had Saskatchewan in second-place nationally for 2025 and the next two years.
Now, we have ScotiaBank’s forecast and it sees Saskatchewan in a similar but different light. They see Saskatchewan’s economy gaining momentum in each of the three years under consideration. They see us in third place this year with growth of 2.4-percent. Next year we move into second spot behind Alberta as our growth picks up and then, in 2027, with another gain of one-tenth of a point we will move into the lead position among the provinces.
Throughout the three-year period, Scotia sees Saskatchewan with the second-strongest employment growth rate and the lowest unemployment rate – hitting a remarkable 3.9-percent in 2027.
