2024 Mid-Year Economic Outlook Report

The economic landscape of the Saskatoon Region continues to paint a picture of growth and promise.

In analyzing the data and trends, several key takeaways can be expected:

• The Saskatoon Region is projected to lead in economic development with a growth rate of 3.5%.
• Despite rapid population growth and strong employment figures, a widening skills gap contributes to a challenging labor shortage.
• While inflation remains a concern, a 0.25 basis point drop in interest rates has led to improved economic sentiment.
• Increased investments across various industries are expected to drive growth and spending in the region.

This report explores the key factors shaping the economic landscape of the Saskatoon Region. By employing a multifaceted approach of integrating macroeconomic indicators, sectoral analysis, and global trends, it paints a holistic picture of what to expect for the remainder of 2024.