February 2020 year-to-date retail trade was up by 4.4% over the same period in 2019.

• Sub-sectors that posted increases were: New car dealers (4.8%), Gasoline stations (1.8%), Furniture and home furnishings stores (5.7%), Electronics and appliance stores (15.6%), Health and personal care stores (9.2%), Clothing and clothing accessories stores (7.6%), Beer, wine and liquor stores (2.1%), and General merchandise stores (5.7%).
• Sub-sectors that posted declines were: Used car dealers (-18.6%), Building material and garden equipment and supplies dealers (-44.0%), Sporting goods, hobby, book and music stores (-1.6%), and Grocery stores (-2.3%).              

February 2020 year-to-date new motor vehicle sales were up 4.4% from February 2019. New minivans, sport-utility vehicles, light and heavy trucks, vans and buses sales were up 6.3%, while New passenger cars sales were down -9.8%.

February 2020 year-to-date restaurant receipts were up 3.1% over the same period in 2019. Within restaurant receipts, Special food services (13.2%) and Limited-service eating places (6.7%) increased. At the same time, declines were noted in Drinking places (alcoholic beverages) (-2.1%) and Full-service restaurants (-1.8%).

February 2020 year-to-date manufacturing sales were down by -12.2% over the same period in 2019.

• Sub-sectors that posted increases were: Fabricated metal product manufacturing sales (18.2%).
• Sub-sectors that posted declines were: Food manufacturing sales (-15.0%), Machinery manufacturing sales (-4.6%), and All other Manufacturing sales (-14.3%).

February 2020 year-to-date wholesale trade was down -6.7% over the same period in 2019.

• Sub-sectors that posted increases were: Farm product merchant wholesalers (12.9%) and All other (43.1%).
• Sub-sectors that posted declines were: Food, beverage and tobacco merchant wholesalers (-7.8%), Machinery, equipment and supplies merchant wholesalers (-12.8%), and Building material and supplies merchant wholesalers (-1.0%).

Total International merchandise exports were up 4.2% year-to-date March 2020 over March 2019.

• Sub-sectors that posted increases were: Farm, fishing and intermediate food products (13.5%), Energy products (9.3%), Basic and industrial chemical, plastic and rubber products (1.0%), Industrial machinery, equipment and parts (4.4%), Electronic and electrical equipment and parts (4.7%), and Motor vehicles and parts (30.9%).
• Sub-sectors that posted decreases were: Metal ores and non-metallic minerals (-8.7%), Metal and non-metallic mineral products (-73.8%), Forestry products and building and packaging materials (-4.2%), Aircraft and other transportation equipment and parts (-43.7%), Consumer goods (-9.4%), and Special transactions (-2.7%). 

Construction employment declined throughout 2019 with weak housing and residential building permit activity. In the first 4 months of 2020, this trend continued, despite signs of life in residential housing starts. Year-to-date April construction employment was down by 6,525 positions or 14.9% from the same period in 2019.

Recovering from an exceptionally soft 2019, April 2020 total year-to-date housing starts were up by 255 units or 62.3%.  Year-to-date increases were observed in singles (39 units or 18.8%), row (6 units or 6.8%), apartment and other types (225 units or 296.1%). Year-to-date declines were limited to semi-detached (-15 units or -40.5%).

March 2020 year-to-date building permits were up 6.1% over the same period in 2019. Sub-sectors that posted increases were: residential (8.9%) and commercial (55.3%). During the same time period, industrial (-21.4%) and institutional and governmental (-85.7%) posted declines.

April 2020 year-to-date Information, culture and recreation employment was up 1.7% or 350 positions over the same period in 2019.

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.

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.

In its pre-pandemic Winter 2020 forecast, the Conference Board of Canada's forecast for 2020 was for 1% growth in real GDP and 1.7% in 2021. In its Spring 2020 forecast, accounting for pandemic impacts, the Conference Board now predicts 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.