Pandemic Exacerbates an Already Bleak Outlook: Saskatchewan’s Two-Year Outlook—September 2020
The Conference Board of Canada, 10 pages,
September 17, 2020
This quarterly economic forecast for the province of Saskatchewan examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
- Saskatchewan’s real GDP will fall 8.7 per cent in 2020, but economic growth will pick up in 2021, with a gain of 4.7 per cent anticipated.
- The unemployment rate is expected to average 8.7 per cent this year, driven up by an 11.8 per cent average in the second quarter.
- Investment will be a major drag on Saskatchewan’s economy this year due, in part, to curtailments in the energy sector.
- Exports will decline sharply in 2020 but will return to being a solid contributor to the province’s economy after this year.
Table of Contents