Another major bank has added its voice to the chorus putting Saskatchewan in the upper ranks for economic growth in the next 24 months.
In its latest quarterly update ScotiaBank places Saskatchewan in the top three provinces for 2024 with an expectation of just over a half point expansion. That is relatively mild compared to the levels we’ve been seeing in recent years but only Alberta and Nova Scotia will outpace us in a year when higher interest rates are a drag.
We will bounce back to the two-per-cent range in 2025, a year this economics unit suggests will see virtually the entire country find its stride once again. And many provinces will enjoy stronger gains as they more ground to recover.
ScotiaBank is projecting inflation will fall below three per cent next year and below two per cent in Saskatchewan in 2025, enough of a catalyst to fire up the housing sector once again as they expect next year will see the highest volume of new home starts in four years and 2025 will bring even stronger housing development.
