This might be a bit hard to remember but last year was a banner year for the Saskatchewan economy.
We now have the final or official figures on GDP or Gross Domestic product as compiled by StatsCanada.
Saskatchewan saw growth of six per cent last year. That ranked us number one in the country among the provinces and territories. Agricultural production was a key factor in that surge as we rebounded from a drought year in 2021.
There were also a couple other interesting tidbits contained in the annual report. It turns out we reverted to an old habit last year – saving.
There was a time when Saskatchewan citizens saved 24 per cent of their annual paychecks. Over the last few decades that fell until we were actually spending more than we were earning. But that too reversed itself and we started putting money away every paycheck.
Last year was no exception as we enhanced our saving practices. And that was the national exception. Saskatchewan residents were the only ones who strengthened their savings last year – up 2.1 per cent to almost nine per cent of our income being directed into savings vehicles.
