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Shopping crowds a good sign

Conflicting news reports about the economy have left many area residents scratching their heads as to the region’s economic future. We feel the same. Although the Province sold record oil and gas rights in 2010, worth $2.

Conflicting news reports about the economy have left many area residents scratching their heads as to the region’s economic future.

We feel the same.

Although the Province sold record oil and gas rights in 2010, worth $2.4 billion, the Bank of Canada recently announced it would not increase its prime lending rate in December, a sure sign of a fragile economy.

Statistics Canada predicted in December that new home prices in the Calgary region decreased in October, and new single-dwelling housing starts decreased in November by more than 33 per cent from a year ago.

With financial experts contradicting one another by predicting both a burgeoning and weak economy going into 2011, what is the average citizen to think?

Perhaps area residents should look to what is, arguably, one of the greatest economic indicators: personal shopping habits.

This year, retailers saw some record-setting traffic numbers, as eager bargain hunters flocked to malls and big-box stores during the holiday season.

Chinook Centre reported a record setting crowd of 91,000 people, its most populous shopping day to date, while CrossIron Mills also reported the biggest crowds in its history, with almost 67,000 people attending the mall on Boxing Day.

Staff at the Balzac area mega-mall also reported increased sales in gift cards and a 38 per cent increase in traffic over last year.

For us, the increased numbers foster cautious optimism into the new year, but we still encourage residents to plan for the future by saving and spending responsibly.

After all, that’s the Alberta way.




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