Paul Martin's Business Update - May 21st, 2014

Paul Martin's Business Update - May 21st, 2014

It’s a further sign that the provincial economy is maintaining its momentum.

The wholesale sector is one part of the economy that quietly goes about its business of supplying other businesses. And, since it doesn’t generally impact consumers at a primary level, it often operates out of the limelight. But it provides an interesting indicator of how other parts of the economy are working.

Wholesale traffic includes things like farm machinery and fuel, accounting for only six percent of the overall economy but it has been the fastest growing segment of our market for the past five years.

The latest tracking on this some from March and they show a gain of 3.5 per cent in the past year, second best in the country. And, when it grows everything else is also in growth mode.

Revenues for these businesses topped $2.1 billion in March and, to put our performance in perspective, that figure is more than all four Atlantic provinces combined and 50-percent higher than the comparable figure in Manitoba which has a bigger population but smaller economy than ours.

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