A mid-year economic forecast on Saskatchewan’s performance shows a marked improvement over the last report three months ago.
The latest bank to issue its quarterly provincial outlook is RBC. Its June report – which really looks at the first quarter of this year – says last year actually turned out better than expected with oil and mining output not falling as far as they originally anticipated just three months back. And agriculture exceeded expectations.
So now they are saying our economy will grow 1.7 per cent this year – compared to a decline of one percentage point last year – and the momentum will continue with growth next year rising to 2.3 per cent.
This year’s performance will put us behind the national average and in the middle of the pack among the provinces.
However, next year’s outlook is much brighter with Alberta expected to show the biggest gains. At 2.3 per cent, we’ll be right behind them in second place and well ahead of the national pace of 2.1 per cent.