Sales in Alberta expected to grow
29/02/2012 - By Alexander Galasso
Increasing retail sales are expected to fuel economic growth in Alberta this year.
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A study by the Conference Board of Canada predicts that Alberta will be the leader in sales growth over the next two years. The Provincial Outlook Report projects consumer spending will increase 9.2 percent in 2012, reaching $70 billion in retail sales for the year. Those numbers will continue to grow, according to the study, up to $74.2 billion in 2013.
Gains in retail sales are expected as the result of lowering unemployment rates and economic growth. If the province's sales reach the board's expectations for growth - 3.3 percent in 2012 and 4 percent in 2013, Alberta's economy will lead the nation.
Manitoba could post the second strongest sales growth for the country, according to the Conference Board of Canada. Sales are expected to increase by 2.7 percent this year and 2.6 percent in 2013. However, those predictions rely heavily on steady growth in the agriculture sector, which is dependent upon good weather in the coming years, as the Winnipeg Free explains.
If the board's predictions are accurate, retailers should be prepared for longer lines at point-of-sale terminals
and a surge in the volume of payment processing
at their stores.
Articles written by ChargeNational.com's editorial team. For more information, click here.
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