Paul Martin's Business Update - December 6th

Paul Martin's Business Update - December 6th

The negative tone of economic talk in this province this week – sparked by the layoffs announced by Potash Corp – is a stark contrast to the latest provincial forecast issued by the economics unit at BMO Bank of Montreal.

The bank is projecting Saskatchewan’s economy will expand by nearly three per cent this year, roughly a full percentage point higher than last year. And they are saying we’ll be in the 2-and-a-half to three per cent range for the next two years.

Those figures put us in third spot in the country this year and second for the following two years.

Coincidentally the economists at TD Bank said this week they would soon revise their forecast with an upward bias as a result of the record grain crop that went into the bin this fall. That bank has us in roughly the same range as BMO.

Saskatchewan has come a long ways from the days of being a one industry economy – potash is important but so are agriculture and oil, two sectors providing the lift being identified by these economists.

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