Wednesday, June 22, 2005

Responsible consumer spending, or a lack thereof

April's spending numbers:
According to the latest survey by Statistics Canada, Saskatchewan consumers spent 6.9 per cent more on purchases in April than they did one year earlier...

The increased spending is due, in part, to the fact that incomes in the province are up by about 1.9 per cent after inflation...

Even allowing for other factors (low interest rates? better weather for renovations? a generally happy provincial outlook due to higher oil prices?), that's a disturbingly high jump based on not much more real wealth. And even worse, it looks like Saskatchewan was more restrained than other areas: the jump in spending was below the national average of 8.2%.

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