The Conference Board of Canada says Saskatoon and Regina will both experience growth of 2.2 per cent this year.
In its Winter Metropolitan Outlook, the board says the rate in Saskatoon is actually a cooling from 2017. The report says both cities were hit hard by the commodities crash, but both emerged from recession last year and will continue a moderately paced economic recovery this year. Last year, Saskatoon basked in a real GDP rise of 4.1 per cent after two years of small contractions.
Construction output in Saskatoon this year is expected to increase by only 1.0 per cent due to an expected drop in housing starts. Modest growth is expected to resume in manufacturing following three consecutive annual declines. Growth in services-producing industries is forecast to hit 2.5 per cent this year and next. Employment is expected to increase 0.9 per cent. That would hold the unemployment rate at 7.8 per cent.