REGINA — Monday, Statistics Canada released Saskatchewan's building permit figures, which show a 15.8 per cent increase year-over-year growth for March 2024, compared to March 2023 (seasonally adjusted). This places Saskatchewan well-above the national decrease of negative 15.2 per cent.
According to statistics, in March 2024, building permits in Saskatchewan totaled $176 million (seasonally adjusted). The total value of building permits represents the dollar value of construction permits for residential and non-residential buildings.
The provincial economy has seen rapid growth lately, with Statistics Canada's latest GDP numbers indicating that Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.2 billion, or 1.6 per cent. This places Saskatchewan second in the nation for real GDP growth, and above the national average of 1.2 per cent.
Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.
