Released on December 17, 2008
Saskatchewan Leads the Country in Wholesale Trade Growth
Saskatchewan's wholesale trade in October was $1.87 billion - the highest ever October on record according to a report released by Statistics Canada today.
In October, wholesale trade in the province was up by 40.2 per cent (seasonally unadjusted) compared to October 2007. That's the largest increase of any province in Canada and more than 11 times the national average of 3.5 per cent. Saskatchewan had the highest percentage increase in the nation according to today's report.
"Wholesale trade numbers are significant in gauging the consumer and business confidence in the economy," Enterprise and Innovation Minister Lyle Stewart said. "Today's numbers are record-setting, and definitely make a strong statement about the strength of the Saskatchewan economy."
Today's report comes on the heels of two reports yesterday showing Saskatchewan leading the nation in export growth and second in Canada in manufacturing growth. Today, the Canadian Federation of Independent Business released a report saying Saskatchewan leads the country in business optimism.
"All of these reports show that Saskatchewan is well-positioned to weather the current economic storm," Stewart said. "Our government will continue working hard to ensure this growth continues in 2009."
In the first ten months of 2008, wholesale trade totalled $17.7 billion, already surpassing the $14.5 billion in sales recorded for the entire year in 2007.
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For more information, contact:
Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-798-0503
Email: Deb.Young@gov.sk.ca