Saskatoon was expected to see a 4.2 percent growth in gross domestic product for the year 2012. The city saw a 3.4% growth in 2004, 5.1% increase in 2005 and a 2.8% increase in 2006. Saskatoon held Canada's No. 1 economic growth spot for Canada in 2005 according to the Conference Board of Canada. The Conference Board again predicted the city would rate first for economic increase in 2012, showing a growth rate of 4.2%. The Saskatoon Regional Economic Development Authority (SREDA) has also been ranked amongst Canada's top ten economic development organizations by "Site Selection" magazine.