The outlook for the Saskatchewan economy is providing some fodder for the economists at Canada’s major banks.
The big banks each have units that look at trends in a variety of markets and industries. Then, usually on a quarterly basis, they issue a forecast for each of the provinces.
What’s interesting about the projections coming out this year is how they vary.
All these forecasters use roughly the same data so when their findings are grouped in a fairly narrow field, it’s not surprising. But once in a while the range seems to widen. We’re in one of those periods right now.
The latest to join the parade is ScotiaBank which has us in the middle of the pack. They expect growth this year – about two per cent. That’s after a contraction last year.
Then they say growth trend will continue but with less vigor. They project 1.8 per cent next year and 1.6 per cent growth in 2019. That will leave us in the middle next year but 2019 is different….even though it is a decline for us, it is one of the best outlooks for the country, exceeding the national average.
Here is what some of the other banks recently said about Saskatchewan: