Released on March 20, 2009
Saskatchewan is number one in the country in three important economic categories - wholesale trade, retail sales and new vehicle sales.
On Wednesday, the wholesale trade numbers were released and Saskatchewan had the highest percentage increase in the nation (January 2009 compared to January 2008) up by 14 per cent on a seasonally unadjusted basis. This was the highest increase among the provinces, surpassing the 7.8 decline reported for the nation.
Retail trade numbers released today show Saskatchewan consumers were spending again in January. Retail sales were up by 0.3 per cent between January 2009 and last January (seasonally unadjusted). Saskatchewan was the only province to have an increase. Nationally, retail sales dropped by 4.5 per cent.
On a seasonally adjusted basis, new vehicle sales were up between December 2008 and January 2009 by 15.7 per cent, the highest increase in the nation and well ahead of the 5.5 per cent increase posted for the nation. New vehicle sales in the province dropped in January 2009 when compared to last year by 7.5 per cent (seasonally unadjusted). On a national basis, new vehicle sales are down by 25.3 per cent.
"Wholesale and retail trade activity is vital to a healthy economy," Enterprise and Innovation Minister Lyle Stewart said. "Saskatchewan continues to ride out this economic storm and the numbers for trade and new vehicle sales put us in a better position than any other province.
"We have been saying all along that these small, but steady increases are really a testament to the diversity and strength of this economy," Stewart said. "The investments in infrastructure and the commitment to reduce taxes will allow us to pick up steam as the economy turns around."
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For more information, contact:
Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-798-0503
Email: Deb.Young@enterprisesask.ca