Provincial Outlook Economic Forecast: Saskatchewan—Autumn 2019
The Conference Board of Canada, 21 pages,
January 10, 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.
- Real GDP at market prices will decline by 0.3 per cent in 2019 due to weakness in investment and exports. Growth will return in 2020 with a gain of around 1.0 per cent.
- Tight labour markets and rising wages will lead to modest gains in household spending over the near term.
- The unemployment rate is expected to remain below 5.5 per cent through 2024.
- The provincial government expects to run small budget surpluses over the next few years. But this will be challenging, as growth in government revenue will be constrained by the economic weakness.