Released on December 12, 2011
Saskatchewan will lead the nation in economic growth until 2013, according to the latest RBC Economics Provincial Outlook report released today. According to the report, GDP is expected to rise in the province by 4.5 per cent in 2011, 4.2 per cent in 2012 and 4.7 per cent in 2013.
"This report reflects the amazing opportunities in our province," Enterprise Minister Jeremy Harrison said. "The strength of our resource base, new residents moving into the province and solid growth in manufacturing and trade are creating a tremendous increase in economic activity."
RBC has also raised its projection for new housing starts and project that in 2013 there will be 7,900 units built in the province, the highest annual levels since 1979. The unemployment rate in the province is forecast to be the lowest in the nation in 2012 and 2013. Net in-migration rates to the province in the second quarter of 2011 for interprovincial and international migrants were at levels Saskatchewan has not experienced in forty years.
"What this means for Saskatchewan is that we will continue to see more investment and job creation in our province, more people choosing Saskatchewan as the best place to raise a family and a higher quality of life for people across the province, " Harrison said.
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For more information, contact:
Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-787-6315
Email: deb.young@enterprisesask.ca