Above average growth rate and the lowest unemployment in the country. Those are the headlines on the economic outlook for Saskatchewan issued by ScotiaBank.
The economics team at the bank projects Saskatchewan will see growth exceeding two percent per year for the fifth consecutive year by the time everything is tallied at the end of next year. Only Alberta matches that performance.
They anticipate growth for last year will come in at 2.4-percent. This year, they say we should see expansion of a further 2-percent and then another 2.4-percent next year.
This is one of the more bullish forecasts on Saskatchewan economic prospects, prompting the bank to project our unemployment rate will be the lowest in Canada as a result floating between 5 and 5.5% this year and next.
The bank sees new home construction and sales of new vehicles will remain fairly steady through the period, further pointing to better-than-average consumer confidence and spending.
These figures point to growth roughly twice what will be seen at the national level.
