Another voice has been added to the chorus.
The economics team at ScotiaBank has joined most other forecasters who say Saskatchewan will be a leader in economic growth this year and in 2026. ScotiaBank’s mid-year update has us in second spot, behind Alberta both years.
The commentary surrounding the projections note strength in a couple areas: on the consumer front and in mining.
They say a strong labor market has pushed unemployment to nation-wide lows which supports retail spending as well as major purchases such as houses or vehicles. In part, this has been given a lift by all the capital investment flowing into the province, especially in the mining sector which has been expanding its footprint.
It also contributes to population growth which will continue through this year and next although at a slower rate than we’ve seen in recent years. That growth, though, will support the home building sector which became a major contributor to Saskatchewan’s economic picture in the past 18 months with a 30-percent increase in the first half of this year alone.
