Saskatchewan consumers spent their way to the top of the national ranking in September.
Figures on retail sales or consumer spending are a key metric in monitoring an economy’s performance since consumers represent a disproportionately large percentage of overall economic activity. So, when a figure pops up showing us at the top of the provincial rankings, it does catch your eye.
Sales at retail outlets rose three per-cent in September. That is the strongest increase among the provinces and considerably higher than the half-point improvement posted nationally. It is also important to note that Saskatchewan’s inflation rate was lower than the national average in that month so this is more than just retailers charging more for their products. It represents an increase in purchases.
To put it another way, this is just one more measure of consumer confidence in a province that has been attracting strong investment or capital spending which, in turn, is trickling down to a growing population demonstrating more purchasing power.