Paul Martin’s Business Update – October 21st, 2014

This province’s wholesale sector is back. After a one month decline in revenues, manufacturers and processors saw activity rebound significantly in August, cracking the $2 billion mark for a month.

July saw things taper off after a run of five or six consecutive months of increases. Many wondered if the decline in July was a sign of a change but when the August figures were released this week we were back on the growth track. Revenues for this sector rose by more than a full percentage point from July to August, giving us a jump of roughly 10 percent for the past year.

These are significant numbers and will likely only increase as the Canadian dollar weakens against its US counterpart.

What is interesting, however, is how this sector has grown in importance. On a per capita basis, we are about 50 per cent ahead of Manitoba, roughly equal or slightly behind Ontario and about double the volume generated in Quebec. We even match up pretty well with Alberta and are considerably ahead of BC.

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