Paul Martin's Business Update - October 9th

The pace is slower but it is still among the best of the lot.

The updated quarterly economic forecast issued by BMO Bank of Montreal says Saskatchewan’s economy will expand by roughly 2.5 per cent this year and just under three percent next year.

This growth-on-growth outlook is somewhat more modest than the four or five per cent annual gains of a couple years ago but is trending toward a more steady-as-she-goes pace.

At 2.4 percent, Saskatchewan’s economy will see the third largest increase this year, behind Alberta and league-leading Newfoundland which is expected to see a five per cent improvement this year. In 2014 Alberta and Saskatchewan will return to holding their traditional positions as first and second but we will have the best job creation growth in the nation this year.

These findings are similar to ones we’ve seen from other forecasters as we move from a period of rapid economic expansion to one that is a bit more stable, as we capitalize on the massive investments that have propelled our market for the last decade.

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