November 2019 year-to-date retail trade was down by -0.7% over the same period in 2018.

• Sub sectors that posted increases were: Used car dealers (23.4%), Gasoline stations (2.7%), Health and personal care stores (2.4%), Grocery stores (2.3%), General merchandise stores (0.1%), and All other (1.4%). 
• Sub sectors that posted declines were: New car dealers (-4.1%), Furniture and home furnishings stores (-2.0%), Electronics and appliance stores (-25.6%), Building material and garden equipment and supplies dealers (-3.8%), Clothing and clothing accessories stores (-5.0%), Sporting goods, hobby, book and music stores (-2.7%), and Beer, wine and liquor stores (-2.0%).

November 2019 year-to-date new motor vehicle sales were down -3.1% from November 2018. New minivans, sport-utility vehicles, light and heavy trucks, vans and buses sales were down -0.8%, while New passenger cars sales were also down -17.1%.

November 2019 year-to-date restaurant receipts were up 1.1% over the same period in 2018. Within restaurant receipts, Special food services (0.4%), Full-service restaurants (1.7%), and Limited-service eating places (2.3%) increased. At the same time, declines were noted in Drinking places (alcoholic beverages) (-13.7%).

November 2019 year-to-date manufacturing sales were down by -8.4% over the same period in 2018. 

• Sub sectors that posted increases were: Fabricated metal product manufacturing sales (21.3%). 
• Sub sectors that posted decreases were: Food manufacturing sales (-3.6%), Machinery manufacturing sales (-10.0%), and All other Manufacturing sales (-12.3%).

November 2019 year-to-date wholesale trade was up 2.2% over the same period in 2018. 

• Sub sectors that posted increases were: Farm product merchant wholesalers (11.0%), Building material and supplies merchant wholesalers (0.4%), and All other (424.9%).
• Sub sectors that posted declines were: Food, beverage and tobacco merchant wholesalers (-12.1%) and Machinery, equipment and supplies, and merchant wholesalers (-8.3%).

Total International merchandise exports were down -3.0% year-to-date December 2019 over December 2018. 

Sub sectors that posted increases were: Metal ores and non-metallic minerals (2.1%), Basic and industrial chemical, plastic and rubber products (32.8%), Industrial machinery, equipment and parts (2.2%), Motor vehicles and parts (9.4%), Aircraft and other transportation equipment and parts (237.8%), Consumer goods (13.9%), and Special transactions (1.4%).

Sub sectors that posted declines were: Farm, fishing and intermediate food products (-3.7%), Energy products (-3.2%), Metal and non-metallic mineral products (-28.7%), Forestry products and building and packaging materials (-19.6%), and Electronic and electrical equipment and parts (-25.7%).

Construction employment declined throughout 2019 with weak housing and residential building permit activity. In the first month of 2020, this trend is continuing. Year-to-date January construction employment is down by 6,300 positions or 14.1% from the same period in 2019.

Bouncing back from a dismal 2019, total year-to-date housing starts in January 2020 are up by 105 units or 77.2%. Year-to-date increases were observed in apartment and other types (120 units or 363.6%). Year-to-date declines were noted in singles (-5 units or -7.8%), semi-detached (-6 units or -75.0%), and row (-4 units or -12.9%).

December 2019 year-to-date building permits are down -12.9% over the same period in 2018. Sub sectors that posted increases were limited to: commercial (2.3%). During the same time period, residential (-19.5%), industrial (-19.5%), and institutional and governmental (-26.8%), posted declines.               

January 2020 year-to-date Information, culture and recreation employment was up 18.6% or 3,600 positions over the same period in 2019.

With inflation remaining in its target range, the Bank of Canada held its overnight rate steady at 1.75%, as expected, in its January 2020 rate announcement. The Bank's policy statement recognized the slowdown in near term economic growth and a widening output gap. The Bank of Canada did not close the door on future rate cuts noting continued global trade tensions. The next scheduled date for announcing the overnight rate target is March 4, 2020.

According to the Conference Board of Canada, the Provincial economy shrank slightly in 2019, following a 1.6 percent increase in 2018. The forecast for 2020 is for 1.2% growth in real GDP.

2019 Q4 Provincial population was up 1.0% over 2018 Q4 to an all-time high of 1,178,657 on the strength of a historic 5,500 person surge in international in-migration.