Saskatchewan real GDP growth projected to increase, but slower than 2022: Economic Forecast

TD Bank’s Economic Forecast for Saskatchewan indicates the province’s real Gross Domestic Product (GDP) is projected to grow this year by 2.4 percent.

That’s above their national level estimate but lower than the 5.5 percent growth Saskatchewan had last year, aided by rising commodity prices and demand as a result of Russia’s invasion of Ukraine, as well as crop production rebounding in 2022.

Alberta’s real GDP by comparison is projected to grow by 2.7 percent this year and Manitoba’s 1.9 percent.

TD Economist Marco Erocoalo says the provinces tend to follow one-another, but other factors are considered when compiling the forecast.

He says moving forward,  the province’s growth will slow down as the calendar gets closer to 2024.

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