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Building Construction Investment up 87.1 Per Cent in Saskatchewan

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Building Construction Investment up 87.1 Per Cent in Saskatchewan

At $111.4 million, up 34.3 percent from August 2021, Saskatchewan also led all other provinces in investment in non-residential development in August 2022. Saskatchewan likewise experienced a monthly increase of 4.6% in comparison to July 2022.

“Today’s robust Statistics Canada results are just another indicator that our economy is still expanding,” said Jeremy Harrison, minister of trade and export development. “These data are additional evidence that we remain one of the finest destinations in Canada for businesses and workers,” the government stated. “Our government is devoted to growth that works for everyone.”

When comparing the first eight months of 2022 to the same time in 2021, non-residential building investment increased by 31.2%, placing Saskatchewan third among the provinces in terms of percentage change.

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In recent months, numerous important economic sectors in Saskatchewan have experienced significant growth. When compared to August 2021, wholesale commerce increased in value by 73.7%, while manufacturing sales increased by 28.9% during the same time. In September 2022, the province’s unemployment rate dropped to 4.1%, the lowest among provinces and far lower than the national average of 5.2%. Additionally, merchandise exports surged by 54.7% in August 2022 compared to August 2021, ranking first among the provinces (seasonally adjusted).

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