Paul Martin’s Business Update – June 2nd, 2014

Paul Martin’s Business Update – June 2nd, 2014

To find evidence of the impact of our growing population, we can examine a wide array of economic indicators including metrics such as housing and spending. More people means more residential units and so on. Another of those indicators is spending in restaurants and bars. As our population has grown, so have receipts in these types of establishments. The latest numbers we have come from March. Overall spending in this part of the hospitality sector was up about one per cent over February, marking the fourth consecutive monthly increase. On a year-over-year basis, revenues in full service, fast food, catering outlets and taverns rose 4.5 per cent. That was the strongest improvement in the country and well above the national increase of two percentage points. In some parts of the country – six provinces in total - these businesses were seeing declining sales which is a further contrast to the Saskatchewan situation and a reflection of how our economy continues to expand and discretionary spending remains strong.

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