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