Saskatchewan showing largest retail sales growth: Stats Canada
According to a new report by Statistics Canada, Saskatchewan experienced the largest increase in retail sales when compared to all other Canadian provinces between July 2006 and July 2007. Retail sales in Saskatchewan surged ahead 11.5% during the study period, well above the national average of 3.8%. Alberta was second amongst the provinces showing growth of 8.4%.
Retail market showing the most growth included automotive, building and home supplies, home furnishings, pharmacies and general merchandise. Sales in food and beverage saw a slight decline of 1.1%
I thought this was an interesting follow up to Consumer spending about to peak in Saskatchewan.
Read the Star Phoenix story here
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Norm Fisher
Royal LePage Saskatoon Real Estate
6 comments so far. We'd love to hear your thoughts.
April 26th, 2009 at 12:19 PM
I’ll preface by saying this is speculation but I’d venture to say this is a result of home equity being pumped into the economy. I read an article once written by a U.S. economist who indicated the fact that most economists had predicted a U.S. recession in the early 2000′s but the economy was kept afloat with equity infusion into the economy… This is good for our economy but it still doesn’t tickle my fancy for longterm stability (again, looking to the present day south-of-border economy).
J.
April 26th, 2009 at 12:19 PM
Norm:
I have a question and I want to know how increasing price of Canadian dollar effect the Canadian economy. Is this a positive change?
April 26th, 2009 at 12:20 PM
Northstar’s 13 steps are featured in the current MoneySense issue(A Canadian financial magazine). See page 56 for details (also says they are from 97 Tips for Real Estate Investing).
Interesting read.
April 26th, 2009 at 12:20 PM
Thanks Johny,
No doubt. When the average Saskatchewan home owner has seen their net worth climb 50-100K you can bet it makes them feel free to spend.
Sweety,
My understanding is that it’s generally bad for those who export product to the US from Canada, and good for those who buy and use American products and services, provided they’re buying direct. Obviously, there are some big benefits if you actually go south to buy or for vacation.
http://www.canada.com/saskatoonstarphoenix/story.html?id=49c5fcfa-9284-423f-abe6-10d2b5e7551f
Jedi,
Thanks for the heads up on that.
April 26th, 2009 at 12:20 PM
Well, Well,
Jedi, please post the article if possible?
April 26th, 2009 at 12:21 PM
I tried to find it on Moneysense.ca but the link wasn’t active. I think most gas stations carry it in their magazine section. McNally does for sure.