Two reports released on new motor vehicle sales and manufacturing shipments contain positive news about the Saskatchewan economy.
New motor vehicle sales for February 2010 are up by 33.6 per cent over last year, the third highest increase in the nation (seasonally unadjusted). Manufacturing shipments were up slightly in February of this year, by 0.7 per cent, ranked the sixth best in Canada.
"The Saskatchewan economy really is turning around as we predicted," Enterprise Saskatchewan Minister Ken Cheveldayoff said. "New car sales are up substantially and manufacturing shipments are showing small but positive improvements that are heading in the right direction."
Seasonally adjusted, new motor vehicle sales were up 8.5 per cent between January and February of 2010. Manufacturing shipments also improved, rising 1.9 per cent between January 2010 and February 2010, the second highest increase among the provinces.
"The Saskatchewan economy is recovering and making positive gains in many areas as the statistics roll in for the first few months of 2010," Cheveldayoff said. "The decision to manage with cautious optimism will ensure the improvements continue on a steady, positive basis."