TrendLine Saskatchewan

 

TrendLine Saskatchewan - November 2019

An impending economic recovery remains uncertain...

Stephen Johnson

MA
Chief Economist

The Saskatchewan economy continues to send mixed signals regarding an impending recovery, with few signs of the consumer returning to the market place.

Despite a robust labour market with average year-to-date employment advancing and both the unemployment rate and the number of unemployed in decline, year-to-date retail sales are down -0.6%, and new motor vehicle sales have dropped by 1.7%.

Residential construction activity remains in decline with both building permits and housing starts dropping. However, commercial building permits are in recovery and single detached housing starts posted a strong October.

Meanwhile, wholesale trade and restaurant receipts are advancing, while international exports and manufacturing sales are down. 

Composite Indicator Actual & Seasonally Adjusted

Key Indicator This Month

Retail sales

0.6%

Year-to-Date

Retail sales

0.6%

Year-to-Date

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This Issue's Economist:

Stephen Johnson

MA
Chief Economist

This Issue's Editor:


TrendLine Saskatchewan is published monthly by Praxis Consulting.