Released on December 18, 2008
The numbers are out for October retail sales, and Saskatchewan consumers continue to be in a buying mood and lead the nation on a percentage increase basis.
Seasonally unadjusted retail sales were up to $1.24 billion, a jump of 12.9 per cent between October 2007 and October 2008. Saskatchewan and Newfoundland and Labrador both had the same percentage increase, the highest recorded in the nation for this time period. Nationally, retail sales were up only 5.8 per cent.
On a seasonally adjusted basis, retail sales in Saskatchewan were up by 1.5 per cent between September and October, while nationally, sales dropped by 0.9 per cent.
"When you look at a number of the reports released this week, the overall comment about Saskatchewan is that we are the best in the nation right now," Enterprise and Innovation Minister Lyle Stewart said. "These sales numbers are good news for retailers, and good news for our economy."
In the first 10 months of 2008, retail sales are up by 12.8 per cent, the highest percentage increase among the provinces and more than double the 4.8 per cent posted for the national average.
"Retail sales soared to record levels, with the best October sales ever recorded," Stewart said. "Consumer confidence is still strong in the early months of the holiday season, and we are confident Saskatchewan will likely continue to lead the nation as we end 2008."
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For more information, contact:
Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-798-0503
Email: Deb.Young@gov.sk.ca