December 2019 year-to-date retail trade is down by -0.5% over the same period in 2018.

• Sub sectors that posted increases were: Used car dealers (20.4%), Gasoline stations (2.9%), Health and personal care stores (2.8%), Grocery stores (2.2%), General merchandise stores (0.1%), and All other (1.7%).
• Sub sectors that posted declines were: New car dealers (-3.3%), Furniture and home furnishings stores (-0.6%), Electronics and appliance stores (-25.0%), Building material and garden equipment and supplies dealers (-4.4%), Clothing and clothing accessories stores (-4.9%), Sporting goods, hobby, book and music stores (-2.8%), and Beer, wine and liquor stores (-2.0%). 

December 2019 year-to-date new motor vehicle sales were down -3.1% from December 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 -17.2%.

December 2019 year-to-date restaurant receipts were up 1.2% over the same period in 2018. Within restaurant receipts, Special food services (1.7%), Full-service restaurants (1.8%), and Limited-service eating places (2.1%) increased. At the same time, declines were noted in Drinking places (alcoholic beverages) (-13.3%).

December 2019 year-to-date manufacturing sales are down by -9.5% over the same period in 2018.

• Sub sectors that posted increases were: Fabricated metal product manufacturing sales (18.4%).
• Sub sectors that posted declines were: Food manufacturing sales (-5.0%), Machinery manufacturing sales (-11.5%), and All other Manufacturing sales (-13.4%).

December 2019 year-to-date wholesale trade was up 0.7% over the same period in 2018.

• Sub sectors that posted increases were: Farm product merchant wholesalers (12.2%), Building material and supplies merchant wholesalers (0.5%), and All other (411.4%).
• Sub sectors that posted declines were: Food, beverage and tobacco merchant wholesalers (-12.1%) and Machinery, equipment and supplies merchant wholesalers (-8.0%).

Total International merchandise exports were down -3.1% year-to-date January 2020 over January 2019.

• Sub sectors that posted increases were: Farm, fishing and intermediate food products (1.6%), Energy products (100.5%), Basic and industrial chemical, plastic and rubber products (1.8%), Electronic and electrical equipment and parts (35.2%), and Special transactions (2.0%).
• Sub sectors that posted decreases were: Metal ores and non-metallic minerals (-33.3%), Metal and non-metallic mineral products (-80.9%), Forestry products and building and packaging materials (-24.6%), Industrial machinery, equipment and parts (-10.1%), Motor vehicles and parts (-4.3%), Aircraft and other transportation equipment and parts (-69.0%), and Consumer goods (-25.9%).

Construction employment declined throughout 2019 with weak housing and residential building permit activity. In the first 2 months of 2020, this trend is continuing. Year-to-date January construction employment is down by 5,550 positions or 12.7% from the same period in 2019.

Rebounding from a soft 2019, total year-to-date housing starts in February 2020 are up by 158 units or 74.9%. Year-to-date increases were observed in singles (8 units or 7.2%), row (8 units or 21.1%), and apartment and other types (146 units or 270.4%). Year-to-date declines were noted in semi-detached (-4 units or -50.0%).

January 2020 year-to-date building permits are down -15.2% over the same period in 2019.  The only sub sector that posted an increase was industrial (10.3%). During the same time period, residential (-24.9%), commercial (-8.0%), and institutional and governmental (-45.0%), posted declines.

February 2020 year-to-date Information, culture and recreation employment is up 15.7% or 3,100 positions over the same period in 2019.

In 3 dramatic rate cuts on March 4th, 13th, and 27th, 2020, 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 the novel coronavirus, 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 COVID-19 fears.

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.

2020 Q1 provincial population was up 1.0% over 2019 Q1 to an all-time high of 1,181,666 on the strength of a 3,562 person surge in international in-migration.