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 January 2024 over January 2023 was 1.9%. The largest contributors were food (4.2%), shelter (4.6%), recreation, education and reading (8.3%), and Health and personal care (3.9%).      

December 2023 year-to-date retail trade is up by 0.3% over the same period in 2022.

• Sub-sectors that posted increases were new car dealers (13.6%), Furniture and home furnishings stores (0.6%), Building material and garden equipment and supplies dealers (5.7%), Health and personal care stores (8.3%), Sporting goods, hobby, book and music stores (0.1%), General merchandise stores (5.8%), and all other (37.7%).
• During the same time period, used car dealers (-28.0%), Gasoline stations (-11.2%), Electronics and appliance stores (-4.8%), Clothing and clothing accessories stores (-1.4%), Grocery stores (-11.15%), and Beer, wine and liquor stores (-17.4%) posted declines.

December 2023 year-to-date new motor vehicle (units) sales were up 6.0% from December 2022. New minivans, sport-utility vehicles, light and heavy trucks, vans and buses sales were up 7.3% while new passenger cars sales were down -8.7%.

December 2023 year-to-date restaurant receipts were up 10.3% over the same period in 2022. Within restaurant receipts, Special food services (19.5%), Drinking places (alcoholic beverages) (3.0%), Full-service restaurants (8.3%), and Limited-service eating places (11.2%) all increased.

December 2023 year-to-date manufacturing sales were down by -4.9% over the same period in 2022.

• Sub-sectors that posted increases were limited to Machinery manufacturing sales (13.5%).
• Sub-sectors that posted decreases were Food manufacturing (-1.2%), Fabricated metal product manufacturing sales (-0.5%), and All other Manufacturing sales (-9.8%).          

December 2023 year-to-date wholesale trade was up 39.8% over the same period in 2022.

• Farm product merchant wholesalers (100.8%), Food, beverage and tobacco merchant wholesalers (18.2%), and Motor vehicle and motor vehicle parts and accessories merchant wholesalers (8.4%) all posted increases while Personal and household goods merchant wholesalers (-52.8%) saw a decline.

Total International merchandise exports were down -28.8% year-to-date January 2024 over January 2023.

• Sub-sectors that posted increases were Energy products (25.8%), Metal and non-metallic mineral products (42.5%), Basic and industrial chemical, plastic and rubber transactions (0.6%).
• Sub-sectors that posted decreases were Farm, fishing and intermediate food products (-32.3%) Metal ores and non-metallic minerals (-52.8%), Forestry products and building and packaging materials (-13.3%), Industrial machinery, equipment and parts (-39.0%), Electronic and electrical equipment and parts (-41.6%), and Aircraft and other transportation equipment and parts (-36.2%).          

Year-to-date February 2024 construction employment was down -1,900 or -4.6% from the same period in 2023 with slowing housing starts and permitting data.

February 2024, total year-to-date housing starts are down by -145 units or -26.2% over the same period in 2023. Year-to-date increases were observed in singles (31 units or 43.7%) and semi-detached (14 units or 175.0%). Year-to-date declines were noted in row (-1 units or -3.0%) and apartment and other types (-189 units or -42.9%).        

The average year-to-date Housing Price Index Benchmark Composite Price is up from $313,300 in February 2023 to $325,150 in February 2024 or 3.8%.

January 2024 year-to-date building permits were down -46.8% over the same period in 2023. Sub-sectors that posted increases were limited to industrial (255.0%). During the same time period, residential (-53.7%), commercial (-0.7%), and institutional and governmental (-82.5%) posted declines.                             

February 2024 year-to-date employment in Information, culture and recreation was up 2,100 positions or 11.1% over same period in 2023.

 Q1 2024 Provincial population was up 30,624 persons or 2.6% over 2023 Q1 to 1,225,493, an all-time high. 

• 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.