1.6 and 1.8. Those are the percentage increases we should expect to see when tracking economic growth in the province. The figures come from the economics unit at TD Bank.
The bank’s report says last year was a pleasant surprise and growth was stronger than had been anticipated. So, while this year and next year will see slightly slower expansion, the current growth in on top of last year’s performance.
We can anticipate expansion of 1.6 percent this year and a further 1.8 in 2019, according to the report which highlights rising oil prices and a strong agricultural sector for the strength. We will not, the bank says, get much of a boost from the housing sector or job creation. New home starts will retract while job numbers are only starting to show some gains after a pull back.
The reduction in uranium mining activity – in mining as a whole – will weigh on the province’s performance this year, but we should start to see some improvement next year and that is the reason for the slightly higher expectations in 2019.