Saskatoon--Canadian leader in economic growth with GDP of seven per cent in 2005.Saskatoon Saskatoon (săskət  n`), city (1991 pop. 186,058), S central Sask., Canada, on the South Saskatchewan River. has the No. 1 "economic growth" in Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of as
detailed in the Conference Board of Canada's Metropolitan
Outlook--Autumn 2005 report. Saskatoon, along with Kitchener, saw a
remarkable growth of seven per cent in their respective economies this
year and led all 20 Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. cities covered in the report.
Saskatoon's real gross domestic product (GDP GDP (guanosine diphosphate): see guanine. ) in 2004 was 3.4 per
cent, continuing an average increase of 3.7 per cent annually over the
past decade.
The Conference Board also reports that the labour market will see positive growth in 2005. Employment will experience an increase of 5.6 per cent as a result of the creation of approximately 6,900 new job opportunities in the Saskatoon region this year alone. The unemployment rate is expected to be 4.7 per cent, which is down from 6.2 per cent in 2004. Personal income is also predicted to grow at a rate of 9.4 per cent this year. The report also emphasizes that results are stronger in every category for the Saskatoon region, including the sectors of manufacturing, transportation and communication, wholesale and retail trade, and goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . Due to a strong international demand for potash potash: see potassium carbonate. potash Name used for various inorganic compounds of potassium, chiefly the carbonate (K2CO3), a white crystalline material formerly obtained from wood ashes. and uranium uranium (y rā`nēəm), radioactive metallic chemical element; symbol U; at. no. 92; at. wt. 238.0289; m.p. 1,132°C;; b.p. 3,818°C;; sp. gr. 19. , which increased growth in exports in Saskatchewan,
manufacturing output will grow by 16.4 per cent. As a result of the
manufacturing growth, the transportation and communication sector is
expected to increase by 14.5 per cent while the sector of wholesale and
retail trade will increase at a very strong 15.6 per cent. Retail sales
growth will be 11 per cent as a result of the significant job creation
in 2005. The services sector growth is expected to be 7.3 per cent this
year. Overall, Saskatoon received an economic structure rating of 93 per
cent, indicating that our region is one of the most diverse in Canada.
The Conference Board of Canada's Metropolitan Outlook--Autumn 2005 report shows Saskatoon as a clear Canadian leader in economic growth. [GRAPHIC OMITTED] SREDA SREDA Saskatoon Regional Economic Development Authority (Canada) is dedicated to building the economy by retaining, growing, and expanding local business in targeted industrial sectors, attracting new investment in targeted industrial sectors, and branding the Saskatoon region as a great place to live, work, invest and prosper. Economic Growth of Canadian Cities in 2005 Calgary 4.6 Edmonton 2.0 Halifax 1.1 Montreal 1.8 Regina 2.0 Saskatoon 7.0 Toronto 2.2 Vancouver 3.3 Winnipeg 2.7 Source: Metropolitan Outlook--Autumn 2005, Conference Board of Canada Note: Table made from bar graph. |
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