Released on April 3, 2008
Another Canadian economic forecaster is predicting that Saskatchewan will lead the pack in economic growth in both 2008 and 2009.
In its Provincial Outlook report released today, RBC Financial Group calls Saskatchewan "the new provincial growth leader" and predicts 3.6 per cent economic growth in 2008 and 3.2 per cent economic growth in 2009.
The RBC forecast also projects that "every province except Saskatchewan is likely to see a decline in new home construction in 2008." It also projects that Saskatchewan will lead the nation in employment growth, personal disposable income growth and retail sales growth, and that Saskatchewan will have the lowest unemployment rate in the country in 2008.
Premier Brad Wall welcomed the RBC forecast as further evidence that Saskatchewan is on a roll economically.
"Saskatchewan has always had so much potential, but we are only now beginning to fully realize that potential," Wall said. "This is great news for everyone in Saskatchewan. RBC is not only projecting strong economic growth, they are saying that growth is going to translate into real benefits for Saskatchewan people in terms of more jobs and higher disposable income."
Wall noted that the RBC forecast was released on the same day that MLAs will vote on the new government's "Ready for Growth" budget.
"The task of our government is to ensure the economic growth continues and that Saskatchewan is ready for growth," Wall said. "Our first budget is designed to do just that."
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For more information, contact:
Kathy Young
Executive Council
Regina
Phone: 306-787-0425
Email: kathy.young@gov.sk.ca
Cell: 306-526-8927