18 January, 2013

SASKATCHEWAN ECONOMY STAYS STRONG IN 2012

The year 2012 will go down in the history books as another very good year for the Saskatchewan economy. Record levels of population, employment and investment were reached in 2012.

"Saskatchewan's economy was the envy of nearly every Canadian province in 2012 with more jobs, more people to fill those jobs and record levels of new investment coming into the province," Economy Minister Bill Boyd said. "This government's growth agenda will capitalize on our strengths - our people, our resources and our innovation and ensure that Saskatchewan continues to be an economic leader in Canada through 2013 and beyond."

Saskatchewan's population reached an all-time record of 1,086,564 after the third quarter of 2012. This reflected an October 1, 2011 to October 1, 2012 growth rate of 2.16 per cent, the second highest percentage increase among the provinces. On a year over year basis, this was also the largest increase on record.

According to an average of seven major forecasters, Saskatchewan is expected to have the second best economy in 2013 with a growth rate of 2.9 per cent. The Conference Board of Canada predicts Saskatchewan will have top ranking among the provinces with a growth rate of 3.4 per cent. RBC, Scotiabank, CIBC and TD have forecast the province to have the second highest growth rate in the nation.

"Although some of the final data for 2012 has yet to come in, 2013 looks to be very promising for the Saskatchewan economy with solid growth expected," Boyd said. "Supported by strong agriculture and resource sectors, our economy is on a steady course to boost exports, which in turn creates jobs and a multitude of business and investment opportunities."

Read more http://www.gov.sk.ca