May 2020 year-to-date retail trade was down by -8.8% over the same period in 2019.

• Sub-sectors that posted increases were: Building material and garden equipment and supplies dealers (1.5%), Health and personal care stores (7.2%), Grocery stores (8.9%), Beer, wine and liquor stores (8.9%), and General merchandise stores (0.5%).
• Sub-sectors that posted declines were: New car dealers (-22.4%), Used car dealers (-31.0%), Gasoline stations (-19.3%), Furniture and home furnishings stores (-15.3%), Electronics and appliance stores (-7.6%), Clothing and clothing accessories stores (-44.8%), Sporting goods, hobby, book and music stores (-40.4%), and All other (-7.6%). 

May 2020 year-to-date new motor vehicle sales were down -32.8% from May 2019. New minivans, sport-utility vehicles, light and heavy trucks, vans and buses sales were down -30.8%, while New passenger cars sales were also down -45.8%.

May 2020 year-to-date restaurant receipts were down -24.9% over the same period in 2019. Within restaurant receipts, declines were widespread across all sub-categories: Special food services (-21.3%), Drinking places (alcoholic beverages) (-45.2%), Full-service restaurants (-41.4%), and Limited-service eating places (-10.1%).

May 2020 year-to-date manufacturing sales were down by -18.6% over the same period in 2019.

• Sub-sectors that posted increases were: Machinery manufacturing sales (4.6%) and fabricated metal product manufacturing sales (1.5%).
• Sub-sectors that posted decreases were: Food manufacturing sales (-19.4%) and All other Manufacturing sales (-22.9%).

May 2020 year-to-date wholesale trade, a leading indicator of retail activity, was down -4.9% over the same period in 2019.

• Sub-sectors that posted increases were: Farm product merchant wholesalers (5.3%) and Food, beverage and tobacco merchant wholesalers (18.3%).
• Sub-sectors that posted declines were: Machinery, equipment and supplies merchant wholesalers (-10.0%), Building material and supplies merchant wholesalers (-6.7%), and All other (-4.7%).

Led by a weak energy sector, Total International merchandise exports were down -3.4% year-to-date June 2020 over June 2019.

• Sub-sectors that posted increases were: Farm, fishing and intermediate food products (23.1%), Industrial machinery, equipment and parts (6.6%), Electronic and electrical equipment and parts (21.3%), and Consumer goods (1.8%).
• Sub-sectors that posted decreases were: Energy products (-35.7%), Metal ores and non-metallic minerals (-13.8%), Metal and non-metallic mineral products (-67.9%), Basic and industrial chemical, plastic and rubber products (-18.1%), Forestry products and building and packaging materials (-11.9%), Motor vehicles and parts (-0.1%), Aircraft and other transportation equipment and parts (-75.5%), and Special transactions (-12.7%).

With weak housing and residential building permit activity, construction employment declined throughout 2019. In the first 7 months of 2020, this trend is continuing despite a surge in residential housing starts. Year-to-date July construction employment was down by 7,000 positions or 15.2% from the same period in 2019.

Recovering from an exceptionally soft 2019 and led by apartment construction, July 2020 total year-to-date housing starts were up by 776 units or 81.9%.

• Year-to-date increases were observed in: singles (42 units or 8.5%), row (79 units or 61.2%), and apartment and other types (667 units or 282.6%).
• Year-to-date declines were limited to: semi-detached (-12 units or -14.0%).

June 2020 year-to-date building permits were down -30.1% over the same period in 2019.

• All sub sectors posted declines: residential (-6.9%), industrial (-36.4%), commercial (-42.6%), and institutional and governmental (-64.7%).

July 2020 year-to-date employment in Information, culture and recreation was down -1,786 positions or -8.4% over the same period in 2019.

April 2020 year-to-date average weekly earnings in Information and cultural industries was up 4.6%.

2020 Q2 Provincial population was up 0.9% over 2019 Q2 to an all-time high of 1,181,987 on the strength of a 3,000 person surge in international in-migration.

In 3 dramatic rate cuts on March 4th, March 13th, and March 27th, the Bank of Canada cut its benchmark interest rate to 0.25%. The Central Bank initially cut its rate to 1.25% at a previously scheduled meeting on March 4th to help counteract the impact of COVID-19. The unscheduled rate decisions on March 13th and 27th shaved a further percentage point from the rate as a proactive measure to boost the economy amid pandemic fears.

According to the Conference Board of Canada, in its pre-pandemic Winter 2020 forecast, the, forecast for 2020 is for 1% growth in real GDP and 1.7% in 2021. In its Spring 2020 forecast, accounting for pandemic impacts, the Conference Board predicted a 5% decline in the province's GDP in 2020, with employment in the province expected to fall by 2.8%. The report expects both GDP and employment to rebound in 2021, by 5.4% and 2.9%, respectively.