Saskatchewan’s retail sales up
That year to year increase put Saskatchewan in the middle of the economic pack, led by Alberta with a 6.8 per cent increase, year over year, and British Columbia at 4.3 per cent. Manitoba was 2.3 per cent.
Performing worst was Nova Scotia at 1.4 per cent. The national average in that oneyear period was 3.1 per cent. The federal statistics agency said total retail sales in the province, calculated on a seasonally adjusted basis, were $1.564 billion in November, an increase of $25 million from sales in October 2013. That was the third month over month increase in four months.
“They’ve been great all year,” said Troy Verbom, general manager of the Regina based Sherwood Co operative Association, which has two grocery stores, a home centre and combined gas bars/convenience stores. “Food sales were a little soft in the beginning of the year, but in the last 12 or 14 weeks they’ve come around. And home sales and fuel sales have been strong all year.”
Nationally, retail sales seen as a key indicator of economic health rose 0.6 per cent in November to $41.0 billion, the fourth increase in five months. This increase was largely attributed to higher sales at motor vehicle and parts dealers, StatsCan said.
Canadian retail sales rose faster than forecast and follow reports of record wholesale sales and factory orders at a two yea tiffanys r high, suggesting the economy grew 0.2 per cent in November, according to National Bank Financial.
Gains were observed in 9 of 11 subsectors, supporting economists’ belief that a recovery is under way. Weather and the timing of new product releases had a greater effect on sales than promotional events like “Black Friday”. That raises the question of how much retail sales for December and January will suffer from cold weather across Canada.
Across the country, the sector that did best over that 12 month period was automotive parts, accessories and tire stores with a 10.5 per cent increase in sales. That was fol tiffanys lowed by specialty food stores (7.5 per cent) plus sporting goods, hobby, book and music stores at 7.3 per cent.
Right behind were shoe stores (6.9 per cent), clothing stores (6.3), new car dealers plus health and personal care stores (tied at 5.3 per cent) and building material and garden equipment/supplies dealers (4.3 per cent). On the other hand, home furnishing stores across the country showed a 3.2 percent decline in sales. Electronics and appliance stores sales fell by 3.1 per cent.
In other economic news, the provincial government trumpe tiffanys ted StatsCan figures indicating the percentage of Saskatchewan’s working age population (15 and over) receiving federal employment insurance (EI) benefits fell to 1.2 per cent, compared with 1.8 per cent nationally. tiffanys This gave Saskatchewan the second lowest rate of EI beneficiaries behind Alberta’s 0.9 per cent.