Saskatchewan’s building construction investment rose by 5.7 per cent in November 2024 compared to October 2024, according to the latest data from Statistics Canada (seasonally adjusted).
The province ranks second among all provinces for month-over-month growth in this sector.
Year-over-year, building construction investment in Saskatchewan increased by 11.8 per cent from November 2023 to November 2024.
“These figures reflect the ongoing confidence that people and businesses have in making long-term investments in Saskatchewan as a place to grow and succeed,” said Trade and Export Development Minister Warren Kaeding. “Increased investment in building construction strengthens our communities, supports job creation, and further positions our province as the best place to live, work, and raise a family in the nation.”
Building construction investment is calculated based on the total spending value on construction within the province.
Several key economic indicators highlight Saskatchewan’s growth. Exports from the province totalled more than $102 billion for 2022 and 2023 combined. This marks a 52 per cent increase from the previous two-year period, and the highest export numbers in the province’s history.
Saskatchewan’s 2023 real GDP reached a record high of $77.9 billion, increasing by $1.77 billion, or 2.3 per cent, from 2022. This positions Saskatchewan second in the country for real GDP growth, above the national average of 1.2 per cent.
Private capital investment in the province is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent from 2023. This is the highest expected percentage increase in Canada.