Saskatoon and Regina have Momentum

CIBC's Metro Monitor released yesterday spells positive news for Saskatchewan. Regina and Saskatoon are on fire in terms of economic growth.

The CIBC report ranks the pace of economic momentum in Canada's largest Census Metropolitan Areas (CMA's). The index is comprised of 9 key variables that measure growth.

Out of 24 cities, Saskatoon and Regina are numbers 6 and 7 respectively. Saskatoon trails Vancouver by a hair in the rankings. Both Regina and Saskatoon are ahead of major centres like Hamilton, Quebec City, Halifax, and Ottawa.

In the report CIBC Economist Benjamin Tal says that "Saskatoon continues to surprise on the upside, reflecting a nation-leading labour market activity as well as the strongest housing resale market among all cities. A relatively low rate of consumer and business bankruptcies well below the national average."

These are positive and encouraging results for Saskatchewan as it solidifies economic strength and sound management in our province, both by provincial government and business. Low consumer bankruptcies is another encouraging sign because consumer spending is also up.

Consumer spending is up, average weekly earnings are up, and consumer bankruptcies are below the national average. Social mood keeps climbing...