Another of the major banks (CIBC) has issued its updated forecast for growth of the various provincial economies in the country and they have adopted a unique approach to explaining what they expect.
Rather simply issue a set of numbers comparing one year to the next, they couched it in an analysis of which province has the most room to gain.
Basically, they are saying the provinces who have fallen the furthest, or were struggling, have the most capacity to make a comeback.
For those at the top of the pile, it is harder to post big growth numbers.
What they see is that provinces with high housing costs have the most room to improve as consumers in these places had to redirect more of their spending to pay for mortgages or rent, which cut into retail sales.
Here in Saskatchewan, CIBC Capital Markets sees us in the upper half of the pack with growth running in the two per cent range annually through 2026.
And they project we’ll have the lowest unemployment rate in Canada for the next two years.
