Saskatchewan

Regina economy cooling, 1.6% growth expected in 2015

Regina's economy has been cooling off this year thanks to falling resource prices, the Conference Board of Canada says.

Low resource prices the cause, Conference Board of Canada says

Regina's economy is expected to grow by 1.6 per cent in 2015 and 2.4 per cent in 2016. (CBC)

Regina's economy has been cooling off this year thanks to falling resource prices, the Conference Board of Canada says.

Last year, economic growth was pegged at 3.8 per cent.

In 2015, however, it's expected growth will slow to 1.6 per cent.

"Lower prices for many of Saskatchewan's key commodities, including oil, potash, uranium and wheat, will put a damper on Regina's economy," said Alan Arcand, associate director of the Conference Board's Centre for Municipal Studies. 

The Regina metropolitan area's economic growth in 2015 will be less than a third of the average annual rate between 2010 and 2014.

Next year, the economy is expected to bounce back with a projected increase of 2.4 per cent.

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