A second major Canadian bank has rewritten its economic forecast for the year and put Saskatchewan at the head of the class.
TD Canada Trust’s update of its quarterly forecast now has Saskatchewan’s growth rate for this year at 4.9 per cent. That is the strongest performer in the country and is tied by Alberta as the commodity-rich Prairie region rides a wave of global demand for our products.
The bank adds that we can expect growth of another 1.6 per cent next year or 6.5 per cent over the two-year period which is roughly double what other provinces are seeing in their forecasts.
TD says the Saskatchewan story goes beyond grain or potash, however. Their economics unit noted the strength is being felt across the board as manufacturing, retail and housing data show us out-performing.
Like RBC in its earlier report which flagged Saskatchewan as the nation’s top performer, TD recognized the province is playing a great role on the global stage, as a replacement supplier for things such as Eastern European potash producers as well as grain production.
