It’s been a while since we could talk about the economy growing at almost six-percent a year but that’s what is in store for Saskatchewan this year, according to TD Canada Trust. The bank has just issued its updated quarterly forecast and, now that we have a pretty good handle on how things finished in 2020, they are able to start laying out projections for this year.
The bank says Saskatchewan’s economy will grow about 5.8% this year. Obviously in an upbeat mood when preparing this report, that puts us in the middle of the pack among the provinces so they are seeing some rosy prospects nationally.
The bank says our tourism and hospitality sector will not provide much lift as the pandemic winds down because it is small and didn’t fall as far as many parts of the Canada while the pandemic was in full force. But they do see some reasons for optimism in capital spending plans which will go from negative last year to positive this year, a strong outlook for commodities and vitality in the housing market.