The provincial economic outlook issued by the team at ScotiaBank is calling for more of the same through the remainder of this year.
The bank was among those who ranked Saskatchewan at the top of the leader board last year with growth in excess of five per cent. That is a very high figure in the realm of expansion or a mature or advanced economy. And they are suggesting that we will see even further growth on top of that performance this year.
The bank is forecasting Saskatchewan’s economy will add another two percentage points this year. Only Alberta will do better as we and our neighbor turn in the best report cards. And Scotia sees an additional one per cent growth in 2024.
In broader terms, they see a soft landing for all the provinces as they project no region will post negative figures on a year-over-year basis. That does not mean no recession as one could be experienced for a portion of a year but any pull-back will not be significant enough to trigger an extended period of contraction.