Record March for Wholesale Trade in Saskatchewan
Written by Shanna Empey on Saturday, 23 May 2015
Saskatchewan had the highest March on record in terms of whole sale trade in the province, even surpassing the nationally posted figures according to Statistics Canada.
Canada posted at 5.6 per cent, with Saskatchewan posting 12.2 per cent in year-over-year wholesale trade for the month of March, the highest among the provinces.
“I had a look at the data broken down by sector, and it looks like most of the increase is attributed to the farm sector, so we’ve got some optimism on the farm this spring,” said Executive Director of Industry and Business Development with the Ministry of the Economy, Tony Baumgartner. “There’s always a spike every spring, but the year-over-year numbers are up quite substantially, so what we’re seeing is some increased purchases by farms of wholesale inputs to their business.”
Baumgartner says all of the province’s sectors have been doing quite well, despite the slump in oil, adding that if this trend continues it will reflect in the province’s economy.
“Even having said that, there’s still lots of activity in the oil patch, but that’s not the only thing we’ve got going for us,” he said. “Mining has been really hot, lots of potash development, agriculture has gone through a few successive years of good or better than good results, and manufacturing is doing pretty well. All of our sectors are really firing on all cylinders, and as a result we’re seeing lots of increases in wholesale trade. It’s hard to be in the prediction business, but as long as our core economic strength sectors are doing well, that’s manufacturing, agriculture, mining, and oil and gas, and as long as those sectors are doing well we’re going to see results that trickle through the entire economy, and it’s reflected in the wholesale trade numbers.”
Baumgartner adds Saskatchewan’s success is largely in part of a well diversified wholesale sector, which is helping to create more jobs and business opportunities for the people of the province.
via Local News http://ift.tt/1IWqQQc