Paul Martin's Business Update - November 28th

Paul Martin's Business Update - November 28th

Consumers in this province found a bit of a spark in September.

This important economic indicator – one that gives us a reading on consumer confidence and attitudes – has been flat in recent months. After a quick start to the year with significant gains, the summer was quieter with small monthly and annual gains.

But September brought a return to stronger numbers. Sales in the month rose by just under one percent from august. On an annualized basis, that would be significant and it represented nearly half of the 2.2 per cent improvement experienced in the past year.

Just what caused the strong performance in September is unclear. Nationally the big gains were seen in the automotive sector which is somewhat different than Saskatchewan where new vehicle sales were flat in September. But it may have been a signal that the positive vibes flowing from a record grain crop being harvested were starting to show. This particular measure suggests that renewed optimism and a successful year in agriculture do indeed carry a close correlation.

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