Canadian economy shows signs of improvement with net sale gains in March across all provinces

March 2010 marked the fourth consecutive gain in total sales in Canada, with a 2.1-percent gain to $37-billion, according to a report published today by Statistics Canada.

The highest gain in sales came from vehicle and vehicle part sales, seeing a 3.6-percent increase in the month. Gasoline stations also experienced an increase, netting a 2.3-percent game YoY in sales, marking 11 straight months in gains in that sector (table for all sectors).

All of the Canadian provinces experienced net gains in total sales, indicating the Canadian economy is beginning to pick up again as more people spend money more money.

 The Canadian economy could see another increase in total sales in the following month as the economy lowers total unemployment as people return to the labour market. Last month in April, the Canadian economy added about 110,000 jobs in the market.

Newfoundland and Labrador had the biggest growth rates in March with 3.1-percent in sale gains for the period.

The Canadian economy is still well positioned in the global economic downturn, largely thanks to more stringent rules and regulations governing financial intermediaries in the country that require tighter capital adequacy ratios. Canada did not have to bailout any financial institution during the credit meltdown.

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Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to [email protected]
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