The mid-year economic growth forecasts are starting to flow from the economics units at the major financial institutions across the country and they are reaffirming Saskatchewan’s nation leading pace.
The most recent comes from Quebec-based Desjardins which ranks Alberta and Saskatchewan at the top of the pack among the provinces — and by a significant margin.
They are projecting growth of nearly three per cent in both provinces this year while the majority are in a range from half a percentage point to one-and-a-half. They say our growth rate will fall to one per cent next year, still well above the national average of .3 per cent.
While they acknowledge Saskatchewan’s usual reliance on commodity prices and production, they also report that Saskatchewan is leading the nation in attracting international immigrants in percentage terms.
This is not only leading to stronger household formation, but it is mitigating some of the labour shortages employers are feeling elsewhere.
The report also notes that our real estate prices are in the mid-range, so, we’re not as susceptible to rising interest rates affecting major cities such as Toronto and Vancouver.
