Paul Martin's Business News February 27th, 2014

Paul Martin's Business News February 27th, 2014

The most important statistic of the year for tracking the performance of Saskatchewan’s economy was released yesterday. And it looks like the buoyancy we’ve been experiencing will continue.

The primary driver of the Saskatchewan economic success story of the past decade has been investment. Ten years ago, we saw roughly $7 billion a year in new capital spending on everything from construction to technology. Two years ago we crossed over the $20 billion mark, basically a tripling of our historic levels.

That performance was repeated last year with just over $20 billion in new capital flowing into long-term investments. And now we have the forecast for 2014. Once again, we are expected to surpass the $20 billion level, further broadening the platform we call the Saskatchewan economy.

Observers wondered whether the strong performance would begin to taper off but, based on the new update, it is at least year away. So fears that the bubble may burst are finding no support. Think of it as a child growing to adulthood - we get bigger with no chance of reverting back to being a child again.

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