Saskatchewan’s GDP grew by 1.6% in 2023, ahead of national average
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Saskatchewan’s gross domestic product grew by 1.6 per cent in 2023, beating the national GDP growth of 1.2 per cent.
According to figures released on Wednesday by Statistics Canada, Saskatchewan’s GDP growth last year was tied with the Yukon, British Columbia and Ontario, but trailed Nunavut (3.4 per cent growth) and Prince Edward Island (2.2 per cent growth).
“Although record population growth helped spur economic activity, tight monetary policy, persistent inflation and several climate change-related events constrained output growth across Canada in 2023,” Statistics Canada explained.
“Higher output from services-producing industries in every province and territory bolstered overall economic growth during a challenging year for goods-producing industries in most of Canada in 2023.”
