Saskatoon’s economy was given a ‘C+’ on its latest report card.
The Saskatoon Regional Economic Development Authority released its 2017 second quarter economic dashboard report. The report provides updates on the region’s economy based on the main economic indicators such as GDP, employment, housing and sector overviews.
“We’ve seen the recovery period and uncertainty has eased,” President and CEO of SREDA Alex Fallon told 650 CKOM. “That’s been replaced with a little more optimism and moderate growth.”
In the first quarter report of 2017, Saskatoon’s economy also received a ‘C+’, a slight improvement from the ‘C’ it had in 2016’s fourth quarter.
“We need mining and agricultural to perform better because we’re so resource driven,” Fallon said. “I hope it’s not long before we can get a slightly better report card.”
Fallon said new businesses are starting to pop up and the retail sector is picking up.
“That speaks to consumer confidence, which is a good thing,” he said.
Over 350 new business licenses were acquired in the last three months and retail sales jumped signaling the best start to a year since 1991.