POSITIVE ECONOMIC INDICATORS FOR SASKATCHEWAN

Three reports recently released on metropolitan growth among major cities, international export sales and manufacturing shipments indicate good news for the provincial economy.

Saskatoon led the nation in GDP growth among Canadian cities in 2008 with a 5.4 per cent increase according to the Conference Board of Canada metropolitan outlook report. Regina had the second highest increase at 4.9 per cent. In 2009, the Conference Board predicts both Saskatoon and Regina will continue to see momentum with projected population increases and major economic activity.

"We are cautiously optimistic when it comes to the future of the Saskatchewan economy," Enterprise and Innovation Minister Lyle Stewart said. "We recognize our provincial economy is tied to strong economies in Saskatoon and Regina and are pleased that both cities are at the top when compared with other major centres in the nation."

A report on international export sales shows Saskatchewan exports were up 63.8 per cent in November 2008 over the previous year (seasonally unadjusted). Exports totalled $2.8 billion, up from $1.7 billion in last November. The percentage increase was the highest in Canada, well ahead of the 3.3 per cent average recorded nationally.

Today, Statistics Canada released a report on manufacturing shipments for November 2008 showing an increase of 8.6 per cent over last November (seasonally unadjusted), which was the second highest percentage increase in the nation. Newfoundland and Labrador had the highest increase, with a jump of 30.6 per cent over the same period. Nationally, manufacturing shipments dropped by 7.7 per cent.

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For more information, contact:

Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-798-0503
Email: Deb.Young@gov.sk.ca