According to the Saskatchewan Finance in its 2023-2024 budget forecast, real GDP is predicted to slow down significantly from the 4.8% increase in 2021 to 1.3% for 2022 and 1.8% in 2024.

The average year-to-date rate of change in the all-items Consumer Price Index (inflation) in November 2023 over November 2022 was 4.0%. The largest contributors were food (7.7%), shelter (6.4%), recreation, education and reading (8.3%), and Health and personal care (6.2%).

October 2023 year-to-date retail trade is up 0.9% over the same period in 2022.

• Sub-sectors that posted increases were: New car dealers (12.9%), Health and personal care stores (8.7%), Sporting goods, hobby, book and music stores (5.0%), General merchandise stores (7.4%), and all other (20.5%).
• During the same time period, used car dealers (-25.6%), Gasoline stations (-8.4%), Furniture and home furnishings stores (-0.7%), Electronics and appliance stores (-3.4%), Building material and garden equipment and supplies dealers (-0.8%), Clothing and clothing accessories stores (-0.4%), Grocery stores (-8.36%), and Beer, wine and liquor stores (-10.8%) posted declines.

October 2023 year-to-date new motor vehicle (units) sales were up 2.9% from October 2022. New minivans, sport-utility vehicles, light and heavy trucks, vans and buses sales were up 4.1% while new passenger cars sales were down -10.0%.

October 2023 year-to-date restaurant receipts were up 11.0% over the same period in 2022. Within restaurant receipts, all sub-categories increased: Special food services (22.7%), Drinking places (alcoholic beverages) (5.7%), Full-service restaurants (9.6%), and Limited-service eating places (11.2%).

October 2023 year-to-date manufacturing sales are down by -3.4% over the same period in 2022.

• Sub-sectors that posted increases were: Food manufacturing sales (3.5%), Machinery manufacturing sales (18.7%), and Fabricated metal product manufacturing sales (1.0%).
•  Sub-sectors that posted decreases were limited to All other Manufacturing sales (-10.3%).      

October 2023 year-to-date wholesale trade was up 40.5% over the same period in 2022.

• Farm product merchant wholesalers (104.3%), Food, beverage and tobacco merchant wholesalers (22.0%), Machinery, equipment and supplies merchant wholesalers (21.4%), Building material and supplies merchant wholesalers (9.5%), and all other (91.6%) all posted increases while only Agricultural supplies merchant wholesalers (-33.2%) posted a decline.                              

Total International merchandise exports were down -5.6% year-to-date November 2023 over November 2022.

• Sub-sectors that posted increases were: Farm, fishing and intermediate food products (12.6%), Metal and non-metallic mineral products (20.1%), Basic and industrial chemical, plastic and rubber products (12.1%), Industrial machinery, equipment and parts (3.8%), Motor vehicles and parts (26.5%), Aircraft and other transportation equipment and parts (0.6%), Consumer goods (23.3%), and Special transactions (9.0%).
• Sub-sectors that posted decreases were: Energy products (-2.1%), Metal ores and non-metallic minerals (-28.9%), Forestry products and building and packaging materials (-32.1%), and Electronic and electrical equipment and parts (-3.0%).

Year-to-date December 2023 construction employment was down -3,517 or -7.5% from the same period in 2022.

December 2023, total year-to-date housing starts are up by 229 units or 6.4% over the same period in 2022. Year-to-date increases were observed in semi-detached (42 units or 30.9%) and apartment and other types (605 units or 33.7%). Year-to-date declines were noted in singles (-234 units or -19.0%) and row (-184 units or -42.7%). 

The average year-to-date Housing Price Index Benchmark Composite Price is up from $324,717 in December 2022 to $324,975 in December 2023 or 0.1% as higher borrowing costs dampened demand.

November 2023 year-to-date building permits are up 14.8% over the same period in 2022. Sub-sectors that posted increases were: residential (14.4%), industrial (37.1%), and institutional and governmental (60.2%). During the same time period, only commercial (-4.2%) posted a decline.       

December 2023 year-to-date employment in Information, culture and recreation was up 1,333 positions or 6.8% over same period in 2022.

Q4 2023 Provincial population was up 31,369 persons or 2.6% over 2022 Q4 to 1,218,976, an all-time high. In addition, the provincial population grew by 9,869 people over the third quarter of 2023. 

• Driving population growth was post-COVID resurgent international immigration as borders re-opened. Net inter-provincial migration has been negative every quarter since Q2 2013.