Saskatchewan should see strong growth again in 2012
REGINA ` After posting a strong year in 2011, Saskatchewan`s economy is expected to outperform again next year ` albeit at a lower rate ` with most private-sector forecasters predicting real gross domestic product (GDP) growth of three per cent, second-highest among the provinces.
In 2011, the province set records for investment and exports, and led the nation in growth in retail sales, wholesale trade, building permits and housing starts. Based on the average of seven private-sector forecasts, the province`s economy is projected to grow 3.8 per cent this year, second only to Newfoundland and Labrador.
Private and public investment is expected to reach $17 billion in 2011, a record for the province. Exports for the first 10 months were up 25 per cent $24.6 billion, another record. In the first 10 months, retail sales were up 8.1 per cent to $13.3 billion, while building permits increased 27.2 per cent to $2.2 billion ` both records.
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