Here’s a little comparison of how two different major chartered banks look at Saskatchewan.
The first was TD Bank. It is projecting Saskatchewan’s economy will grow 1.2-percent this year. The second is ScotiaBank. It looks at the same picture and sees growth of 1.8-percent.
That’s quite a spread: half a percentage point but fits the historic pattern which has TD operating with a much darker crystal ball when viewing Saskatchewan prospects.
And the story for next year is similar. TD sees Saskatchewan growing 2-percent. Scotia pegs us at 2.5-percent. Again, a much brighter outlook flowing from the economics unit at ScotiaBank.
And here is where some of the variation originates. TD sees weak employment growth for Saskatchewan this year at half a percent. Scotia sees a stronger jobs picture with employment rising by 1.2-percent… double the TD outlook.
On the other side, though, TD figures Saskatchewan home builders will be more aggressive: adding 6,000 new units compared to Scotia’s forecast of 5,300.
One economy and two forecasts offering something for both the half full and half empty glass folks.
