The Bank of Canada trimmed its key policy rate by 25 basis points on March 12 to 2.75% and raised concerns about inflationary pressures and weaker growth stemming from trade uncertainty and the US’s tariffs. The bank also said it would "proceed carefully with any further changes" to rates given the need to assess both the upward pressures on inflation from higher costs and the downward pressures from weaker demand.

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.

December 2024 year-to-date retail trade is up by 2.7% over the same period in 2024.

•  Sub-sectors that posted increases were gasoline stations (6.7%), furniture and home furnishings stores (4.4%), health and personal care stores (9.7%), grocery stores (6.7%), general merchandise stores (3.1%), all other (34.9%). 
• Sub-sectors that posted declines were new car dealers (-0.4%), used car dealers (-26.6%), electronics and appliance stores (-8.9%), building material and garden equipment and supplies dealers (-5.2%), clothing and clothing accessories stores (-0.2%), sporting goods, hobby, book and music stores (-5.5%), beer, wine and liquor stores (-26.6%).

December 2024 year-to-date new motor vehicle (units) sales were up 13.6% from December 2023. New minivans, sport-utility vehicles, light and heavy trucks, vans, and buses sales were up 15.0% while new passenger cars sales were also down -5.5%.

December 2024 year-to-date wholesale trade was down -15.3% over the same period in 2023.

• Sub-sectors that posted increases were food, beverage and tobacco merchant wholesalers (22.3%). Sub-sectors that posted declines were farm product merchant wholesalers (-3.8%), personal and household goods merchant wholesalers (-6.1%), motor vehicle and motor vehicle parts and accessories merchant wholesalers (-2.3%).

Year-to-date, December 2024 average weekly earnings are up 4.2% over December 2023.

• Sub-sectors that posted increases were goods-producing industries (3.7%), mining, quarrying, and oil and gas extraction (5.7%), construction (2.5%), manufacturing (2.9%), service-producing industries (4.4%), trade (5.8%), transportation and warehousing (5.0%), information and cultural industries (8.0%), finance and insurance (5.5%), professional, scientific and technical services (5.2%), management of companies and enterprises (8.9%), administrative and support, waste management and remediation services (1.5%), educational services (3.8%), health care and social assistance (4.1%), arts, entertainment and recreation (1.7%), accommodation and food services (9.8%), other services (except public administration) (4.1%).
• Sub-sectors that posted decreases were real estate and rental and leasing (-0.9%).

December 2024 year-to-date restaurant receipts were up 3.5% over the same period in 2023. Within restaurant receipts, special food services (7.1%) and limited-service eating places (6.6%) increased. At the same time, declines were noted in drinking places (alcoholic beverages) (-7.4%) and full-service restaurants (-1.0%).                                   

December 2024 year-to-date manufacturing sales are down by -6.9% over the same period in 2023.

• Sub-sectors that posted increases were chemical manufacturing sales (na). Sub-sectors that posted decreases were food manufacturing sales (-5.2%), machinery manufacturing sales (-20.7%), fabricated metal product manufacturing sales (-7.8%), all other manufacturing sales (-5.0%).

December 2024 year-to-date wholesale trade was down -15.3% over the same period in 2023.

• Sub-sectors that posted increases were food, beverage and tobacco merchant wholesalers (22.3%). Sub-sectors that posted declines were farm product merchant wholesalers (-3.8%), personal and household goods merchant wholesalers (-6.1%), motor vehicle and motor vehicle parts and accessories merchant wholesalers (-2.3%).

Total International merchandise exports were down -6.6% year-to-date January 2025 over January 2024.

•  Sub-sectors that posted increases were energy products (12.2%), basic and industrial chemical, plastic and rubber products (28.2%), forestry products and building and packaging materials (2.2%), electronic and electrical equipment and parts (29.5% ), motor vehicles and parts (19.9%), aircraft and other transportation equipment and parts (28.9%), special transactions (2.0%).
• Sub-sectors that posted decreases were farm, fishing and intermediate food products (-6.6%), metal ores and non-metallic minerals (-29.5%), metal and non-metallic mineral products (-16.1%), industrial machinery, equipment and parts (-34.9%), consumer goods (-10.3%).

February 2025, total year-to-date housing starts are up by 217 units or 53.2% over the same period in 2024. Year-to-date increases were observed in singles (45 units or 44.1%), semi-detached (24 units or 109.1%), row (254 units or 793.8%). Year-to-date declines were noted in apartment and other types (-106 units or -42.1%).

The average year-to-date Housing Price Index Benchmark Composite Price is up from $291,000in February 2024 to $310,000 in February 2025 or 6.8%.

January 2025 year-to-date building permits are up 18.6% over the same period in 2024. Sub-sectors that posted increases were limited to residential (16.6%), industrial (8.5%), institutional and governmental (99.9%). Sub-sectors that posted declines included commercial (-7.3%).

February 2025 year-to-date employment in Information, culture and recreation was up 1,700 positions or 8.4% over same period in 2024.

Q1 2025 Provincial population was up 26,989 persons or 2.2% over 2024 Q4 to 1,250,609. 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.