Released on May 22, 2008
Saskatchewan had the highest retail sales increase of any province in Canada according to Statistics Canada's March totals.
Retail sales totalled $1.1 billion in the month of March 2008, up by 10.7 per cent from last March on a seasonally unadjusted basis. This marks the first time ever that retail sales hit the $1 billion mark for the month of March. Saskatchewan's percentage increase was the highest in Canada, well above the national average which was down by 0.1 per cent. Saskatchewan's retail sales have increased on a year-over-year basis for 42 consecutive months (since September 2004).
"These are historical numbers and are the up-side of a strong economy that is creating more opportunities courtesy of higher commodity and resource prices," Enterprise and Innovation Minister Lyle Stewart said. "Our government is pleased with these numbers and recognize we need to continue developing and implementing initiatives to sustain and increase the opportunities to attract people and businesses to our province."
Retail sales increased on a seasonally adjusted basis between February and March 2008, with sales up from $1.18 billion to $1.21 billion, a 2.1 per cent rise, and the second highest percentage increase in Canada, just behind the 2.3 per cent recorded for Manitoba.
"Retail sales increases are a strong indicator that individuals and families have been able to take advantage of the jobs and business opportunities, which improves purchasing power, and ultimately leads to a better quality of life," Stewart said.
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For more information, contact:
Deb Young
Enterprise and Innovation
Regina
Phone: 306-787-1691
Email: Deb.Young@gov.sk.ca