The discussion around whether or not Canada will find itself in a recession this year is getting more and more attention as we battle issues related to market access and delayed business investment in things such like pipelines or flagging consumer confidence.
Whether we enter one or not is going to sort itself out in the next few months but there is one forecaster that says if you look at Saskatchewan in isolation, we were in a recession last year.
The Conference Board of Canada’s provincial forecast says Saskatchewan experienced a ‘mild’ recession in 2019. In other words, we had a couple of consecutive quarters where the economy actually contracted or pulled back. Their forecast says we should expect a bit of rebound this year so we’ve already been through the worst of it, according to their report which also suggests business investment in the TransMountainPipeline will be enough to push Alberta and BC back into top spot for growth….another indicator of just how important attracting capital investment is to sustaining a growth-based agenda.