REGINA – It’s a pass. Regina has scored 55 on the Regina Prosperity Matrix, a unique-in-Canada quarterly indicator that measures the overall health of the region’s economy.
Developed by Economic Development Regina’s Data and Insights team, the RPM uses a proprietary process to distill and weigh results, and the results for the fourth quarter of 2024 were released Wednesday morning.
RPM combines five indicators of importance to Regina’s economy to create a single composite indicator.
Economic Development Regina says the overall Q4 2024 RPM score of 55 out of 100 reflects strong economic performance with stable growth and manageable risks.
Component scores include:
Employment (47 – Moderate)
Manufacturing (27 – Weak)
Housing (69 – Strong)
Retail/Consumer (83 – Very Strong)
Household Affordability (51 – Moderate)
Economic Development Regina said in its announcement that Q4 highlights include a strong retail and housing index, moderate employment, and household affordability levels. This points to strong consumer activity and housing demand, a relatively stable labour market. Similar to Canada’s broader manufacturing sector, Regina’s manufacturers saw sales declines in Q4, which impacted the RPM score for that component. With more than $3.2 billion in sales, the GRA’s manufacturing sector is, and will continue to be, a major driver of Regina’s economy.
Chris Lane, President of EDR, highlighted the importance of the RPM for businesses and policymakers in making data-informed decisions. He emphasized that the tool is about more than just numbers; it offers insights into the region’s overall quality of life.
Lane also acknowledged potential challenges, including possible U.S. tariffs, but expressed confidence in Regina’s economic fundamentals. “Regina is in a good place to weather the storm,” he said in the release.
The RPM provides regular updates and a comprehensive snapshot of Regina’s economic landscape, helping to foster resilience and growth across the community. More information is available on EDR’s website.
