It turns out we still like heading out for a beer.
One of the key metric in assessing consumer confidence or to the test the mood of the average citizen is discretionary spending. And nowhere is that easier to test than in the local restaurant or tavern.
This is the one of the easiest costs to eliminate in a time of financial stress so economists like to keep on an eye on revenues for bars and eateries to see if people are sitting on their wallets or opening them up.
We get these numbers on a monthly basis with the latest coming from April. They show more growth in sales across the board for those in the hospitality sector. In Saskatchewan, revenues for these businesses rose marginally for the month and were roughly 3-percent higher than a year earlier. This is pretty much line with inflation.
StatsCan says the monthly change was in the middle of the pack among the provinces but the year-over-year growth was lower than any other province so this might be an indicator to watch to see if it is a warning sign.
