Released on July 22, 2008
Saskatchewan's retail sales hit an all-time record for the month of May according to Statistics Canada today.
On a seasonally unadjusted basis, Saskatchewan's retail sales were up 14.1 per cent over last year to $1.4 billion. This was the highest percentage increase in the nation, surpassing the national average increase of only 2.9 per cent.
"Retail numbers at record levels for May speak to the job and business opportunities available in Saskatchewan," Enterprise and Innovation Minister Lyle Stewart said. "With more opportunities, and a stellar economy, consumers are confident to increase spending like never before."
In the first five months of 2008 (seasonally unadjusted), retail sales were up by 14.9 per cent to $5.6 billion when compared to the first five months of 2007. The increase was the highest in Canada, with percentage increases up 5.5 per cent nationally.
Retail sales in the province also jumped on a seasonally-adjusted basis, up by 1.8 per cent between April 2008 and May 2008. Nationally, retail sales were up by only 0.4 per cent over the same period.
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For more information, contact:
Deb Young
Enterprise and Innovation
Regina
Phone: 306-787-6315
Email: Deb.Young@gov.sk.ca