Saskatoon Homepage, May 2,2016 –
The Saskatoon Regional Economic Development Authority is grading the local economy a C for the first quarter of the year, which is down from a B- in the last quarter of 2015.
President and CEO of SREDA, Alex Fallon says that doesn’t mean everything is doom and gloom.
The organization anticipates moderate to steady GDP growth for the remainder of the year at between 1.5 to 2 per cent.
Saskatoon and area’s growing population drives retail and wholesale sales and adds some stability to the economy.
One thing going for the 2nd quarter of the year is an increase in seasonal activity, which includes agriculture.
It’s expected construction will pick up this quarter as well, due to increased infrastructure spending with money coming in from the federal government.
Minister of the Economy, Bill Boyd, says it’s the diversification and competitiveness of the Saskatoon area that helps to buoy the economy during an economic slowdown.