June 2020 year-to-date retail trade was down by -5.1% over the same period in 2019.

• Sub-sectors that posted increases were: Building material and garden equipment and supplies dealers (2.9%), Health and personal care stores (9.2%), Grocery stores (11.0%), Beer, wine and liquor stores (15.0%), and General merchandise stores (5.4%). 
• Sub-sectors that posted declines were:  New car dealers (-17.7%), Used car dealers (-24.0%), Gasoline stations (-18.3%), Furniture and home furnishings stores (-9.8%), Electronics and appliance stores (-5.0%), Clothing and clothing accessories stores (-37.9%), Sporting goods, hobby, book and music stores (-30.6%), and All other (-3.3%).

June 2020 year-to-date new motor vehicle sales (units) were down -30.7% from June 2019. New minivans, sport-utility vehicles, light and heavy trucks, vans and buses sales were down -28.7%, while New passenger cars sales were also down -44.1%.

June 2020 year-to-date restaurant receipts were down -24.2% over the same period in 2019. Declines were widespread: Special food services (-27.1%), Drinking places (alcoholic beverages) (-46.7%), Full-service restaurants (-41.4%), and Limited-service eating places (-8.3%).

June 2020 year-to-date manufacturing sales were down by -18.0% over the same period in 2019.  

• Sub-sectors that posted increases were: Machinery manufacturing sales (6.1%).
• Sub sectors that posted decreases were: Food manufacturing sales (-17.4%), Fabricated metal product manufacturing sales (-2.1%), and All other Manufacturing sales (-22.7%).

June 2020 year-to-date wholesale trade was down -4.9% over the same period in 2019.

• Sub-sectors that posted increase were: Farm product merchant wholesalers (4.4%), Food, beverage and tobacco merchant wholesalers (16.4%), and Agricultural supplies merchant wholesalers.
• Sub-sectors that posted declines were: Machinery, equipment and supplies merchant wholesalers (-4.6%), Building material and supplies merchant wholesalers (-5.8%), and All other (-8.2%).

Led by a weak energy sector, total International merchandise exports were down -2.1% year-to-date July 2020 over July 2019.

• Sub-sectors that posted increases were: Farm, fishing and intermediate food products (26.8%), Industrial machinery, equipment and parts (7.8%), Electronic and electrical equipment and parts (23.9%), and Consumer goods (6.0%).
• Sub-sectors that posted decreases were: Energy products (-36.6%), Metal ores and non-metallic minerals (-13.2%), Metal and non-metallic mineral products (-63.8%), Basic and industrial chemical, plastic and rubber products (-14.6%), Forestry products and building and packaging materials (-9.9%), Motor vehicles and parts (-0.6%), Aircraft and other transportation equipment and parts (-72.6%), and Special transactions (-12.2%).

Construction employment declined throughout 2019 with weak housing and residential building permit activity. In the first 8 months of 2020, this trend continued despite a surge in residential housing starts. Year-to-date August construction employment was down -6,850 positions or -14.6% from the same period in 2019.

Recovering from an exceptionally soft 2019 and led by apartment construction, August 2020 total year-to-date housing starts were up by 769 units or 64.8%.

• Year-to-date increases were observed in: singles (35 units or 6.0%), row (120 units or 81.6%), and apartment and other types (621 units or 173.5%).
• Year-to-date declines were noted in: semi-detached (-7 units or -7.5%).

July 2020 year-to-date building permits were down -27.1% over the same period in 2019.

• All sub-sectors posted declines: residential (-2.4%), industrial (-37.0%), commercial (-41.7%), and institutional and governmental (-62.2%).

August 2020 year-to-date employment in Information, culture and recreation was down -2,163 positions or -10.0% over the same period in 2019.

June 2020 year-to-date average weekly earnings in Information and cultural industries was up 3.9%.

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.