One of the Softer Growth Forecasts

We have now seen the most tepid outlook for Saskatchewan’s economy….this one from BMO Bank of Montreal. The economists at this particular chartered bank have always been on the bearish end of the spectrum on this quarterly forecast with RBC anchoring the other end.

The new BMO report for the final quarter of the year suggests we will end 2021 with growth of just 2.8%.  They have six other provinces with higher growth forecasts and a national average growth rate of 4.5%, nearly twice what they have us pegged at.

And they see rather modest improvements in the coming months with an expansion target of 3.4% next year followed up with 2.9% in 2023. In both those years we’d sit sixth on their national hit parade

They also see us posting employment growth at the low end of the range over the next 24 months and housing starts to fall off in the next two years.

But, on the other side of the equation, BMO sees Saskatchewan with the lowest inflation rates among the province.