Saskatchewan Handling Pandemic Better Than Most Provinces: Saskatchewan’s Two-Year Outlook—December 2020

The Conference Board of Canada, 12 pages, January 11, 2021
Issue briefing
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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.

Document Highlights

  • Saskatchewan’s real GDP will fall by 4.9 per cent in 2020, but economic growth will mostly rebound in 2021 as a gain of 4.5 per cent is anticipated.
  • The province’s labour markets have fared relatively well during the pandemic, as Saskatchewan has had the lowest unemployment rate of any province since August.
  • Investment will drag down Saskatchewan’s economy this year, largely due to weakness in the province’s energy sector.
  • Exports will decline sharply this year, but the strong advances in the agricultural sector will be a silver lining in Saskatchewan’s trade profile.

Table of Contents

Key findings

Saskatchewan snapshot

Overview

Employment outlook

Investment outlook

Fiscal outlook

Trade outlook

Methodology

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