Saskatoon's economic growth is predicted to temporarily slow down for the rest of this year, but then pick right back up again.
That's according to the Conference Board of Canada's metropolitan outlook. For the next four years, it forecasts Saskatoon to be the third fastest growing metropolitan area in Canada. Only Edmonton and Calgary are predicted to grow more quickly.
But first, Saskatoon’s growth will slow to 2.1 per cent for the rest of this year because of a slowdown in the services sector. But after that, continued growth in mining and other sectors is expected to push growth to nearly five per cent. Housing starts could reach a 30 year high.
Regina is forecast to be the fifth fasting growing city in Canada over the next four years.
Saskatchewan GDP, or gross domestic product, is expected to rise by 3.4 per cent in 2013, and by 3.5 per cent in 2014. The conference board says the province will lead the country in GDP growth, fuelled by strong performance in the mining and agriculture sectors.
