There may be some economic malaise in Saskatchewan these days thanks to the downturn in the oil patch, but don’t tell those who are engaged in other wholesale trade items about it, because they’re finding some success.
Wholesale trade in July of this year hit a record $2.17 billion (seasonally adjusted), the highest amount ever for this particular month, according to a report issued by Statistics Canada on Sept. 21.
Year-over-year wholesale trade was up 5.3 per cent, the fourth highest increase among provinces.
“Record high wholesale trade is good news for the economy,” said Bill Boyd, Saskatchewan’s economy minister. “It points to greater demand for goods from business and will help sustain positive growth.”
Gains in wholesale trade on a year-to-date basis were recorded for farm products, personal and household as well as miscellaneous products.
“The rise in a number of areas shows we have a diversified economy, which is a buffer when it comes to the current state of the global marketplace,” Boyd said. “This means we have some protection from what’s happening in the resource sector, and gives us confidence that we will be able to move quickly to turn things around once market conditions
improve.”
