Saskatchewan sees increase in building construction investment

Saskatchewan recorded a 6.7% year-over-year increase in building construction investment, reaching $439 million between July 2023 and July 2024, according to Statistics Canada. The province also saw a 3.6% rise in investment from June to July 2024, ranking second among Canadian provinces in month-over-month growth.

Trade and export development minister Jeremy Harrison highlighted the significance of this growth, stating it contributes to job creation and economic opportunities across various sectors.

The province’s economy continues to show strong performance, with Saskatchewan’s real GDP increasing by 1.6% in 2023, reaching $77.9 billion. Private capital investment is expected to grow by 14.4% in 2024, while Saskatchewan maintains the lowest inflation rate in the country. The province’s Consumer Price Index saw a 1.1% increase in August 2024, the smallest rise among the provinces.