RETAIL AND WHOLESALE TRADE STATS IMPROVE FROM LAST YEAR

Statistics Canada released the figures on retail and wholesale trade for November 2008, and both reports show Saskatchewan made gains when compared to figures from last November on a seasonally unadjusted basis.

Wholesale trade figures released yesterday show an increase of 23.9 per cent over last November (seasonally unadjusted), the highest percentage increase in the nation. This is a stark difference from the 3.9 per cent decline on a national basis.

Retail trade numbers out today indicate sales are up by 2.7 per cent over last November (seasonally unadjusted). This was the second highest percentage increase among the provinces with Newfoundland and Labrador increasing slightly more at 3.0 per cent. Nationally, retail sales dropped by 3.2 per cent.

"We recognize that some sectors in Saskatchewan are expecting some job losses and slowdown as we get through this difficult economic period," Enterprise and Innovation Minister Lyle Stewart said. "However, we are still seeing positive economic growth in many areas, which should help us to get out of this downturn well ahead of other provinces."

Several national economic forecasts predict that Saskatchewan will lead the nation in economic growth in 2009 and last week, the Conference Board of Canada predicted that Saskatoon and Regina will lead all Canadian cities in economic growth this year.

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For more information, contact:

Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-798-0503
Email: Deb.Young@gov.sk.ca