Yesterday, the Saskatoon Regional Economic Development Authority (SREDA) hosted the 2016 Saskatoon Region Economic Outlook Forum. The forum provided information to assist the local business community in understanding the current economic trends affecting key sectors in Saskatchewan. Four local industry leaders presented their outlook on the economy: Ken Seitz, President and CEO, Canpotex Limited; Murad Al-Katib, President and CEO, AGT Food and Ingredients Inc.; Tim Gabruch, Vice-President Marketing, Cameco Corporation; and Mark Cooper, President and CEO, Saskatchewan Construction Association.
At the forum, attendees were asked to complete a Saskatoon Region Economic Confidence Index survey providing information on their perception of the current and future state of the local economy. Of the 250 attendees, 117 surveys were completed. Results show the majority of the group is ‘somewhat confident’ to ‘very confident’ on the current state of the local economy. When asked about their mid to long-term outlook on the economy, most showed confidence in the Saskatoon Region. 75% of the survey participants indicated a forecast of steady or significant growth.
“SREDA’s forecast for the Saskatoon Region’s economy continues to be one of moderate and steady growth, with GDP growth expected to be in the 1.5% to 2% range this year. The results from the Saskatoon Region Economic Confidence Index indicate that many business leaders share this confidence in our economic outlook, particularly in regards to the mid to long-term,” said Alex Fallon, President and CEO of SREDA.