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October 22, 2014
RETAIL TRADE, AUGUST 2014



In Canada, retail sales (seasonally adjusted) declined 0.3% from July 2014 to $42.4 billion in August 2014. Retail sales were down in six provinces in August. In Nova Scotia, retail sales (seasonally adjusted) decreased 1.5% from July 2014 to $1.18 billion in August 2014. Lower sales in Ontario (-0.5%), Alberta (-0.5%), Nova Scotia (-1.5%) and Newfoundland and Labrador (-2.1%) came after three or more months of advances.



On a year over year basis, Canadian retail sales were up 4.4%. The higher sales were reported in all provinces. The largest increases were recorded in Alberta (+8.0%), British Columbia (+5.8%), New Brunswick (+5.2%) and Prince Edward Island (+5.0%). Nova Scotia ranked the 10th with retail sales growth of 2.0% from August 2013 to August 2014.



Nova Scotia year-to-date unadjusted retail sales were up 2.5% ($222.3 million) in Jan-Aug 2014 over Jan-Aug 2013. The largest increases in dollar terms were registered in Motor vehicles sales ($86.3 million), Gasoline ($79.9 million) and General merchandise ($70.2 million). The largest declines in dollar terms were observed in Electronics ($19.7 million) and Building materials ($14.7 million).

On a year-to-date basis retail sales in Canada increased by 4.7% in Jan-Aug 2014 over Jan-Aug 2013. Alberta led the provinces in year-to-date (+8.5%) retail sales growth, followed by British Columbia (+5.7%) and Saskatchewan (+5.1%). Nova Scotia ranked the 10th in year-to-date (+2.6%) retail sales growth.




Statistics Canada Cat. No. 63-005-X

CANSIM 080-0020
Summary Tables S.A. Monthly; U.A. Annual


October 22, 2014
JOB VACANCIES, JULY 2014

In Nova Scotia in July 2014, the three month average number of job vacancies was 4,300, level with a year. In Canada, the number of job vacancies in July 2014 was 222,700, up 10,000 from July 2013. The Job Vacancy Rate (the number of job vacancies or vacant positions on the last business day of the month as a percentage of labour demand) for Nova Scotia in June 2014 was 1.1, the same as a year ago. The lowest job vacancy rate in Canada this month was in Newfoundland and Labrador, at 1.0. Nationally, the job vacancy rate for July 2014 was 1.5, up from 1.4 a year earlier.
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October 22, 2014
BANK OF CANADA MONETARY POLICY REPORT

The Bank of Canada announced it is maintaining its target for the overnight rate at 1 percent and released the Monetary Policy Report - October 2014, providing the Bank's outlook for the global and Canadian economies. With the outlook for economic growth diverging across regions, the Bank of Canada lowered projections for world economic growth in 2015 and 2016. Recovery in the US, as private deleveraging and fiscal consolidation are nearly complete, will be more robust while the euro area and Japan have shown signs of losing momentum as they struggle with persistent headwinds and structural reforms. Conditions in emerging markets have also diverged, with political developments benefiting India and Indonesia (as successful political transitions have been made) but weakening others such as Brazil, Russia, Turkey. China is expected to average around 7 per cent growth over 2014-2016 with support from accommodative monetary policy and targeted fiscal measures as economy rebalances and the housing market softens.
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October 22, 2014
BANK OF CANADA MONETARY POLICY REPORT CONTINUED

The Bank of Canada sees economic activity in Canada currently supported by lower Canadian dollar and low interest rates offsetting impact from weak and uncertain global demand. Exports have been gaining traction in line with US economy but household spending continues to represent more than its long-run sustainable share of growth making a shift from consumption to exports and business investment essential. Real GDP growth is projected to average around 2.5 per cent for the next year before slowing to 2 per cent by the end of 2016.
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October 22, 2014
US CONSUMER PRICE INDEX SEPTEMBER 2014

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 per cent in September 2014 on a seasonally adjusted basis. Over the last 12 months, the all items index increased 1.7 per cent before seasonal adjustment. The CPI less food and energy increased 0.1 per cent in September and was up 1.7 per cent over the past 12 months.
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Recent PublicationsLabour Market Monthly
Consumer Price Index
Nova Scotia Economic Indicators - August 2013
Current Economic Environment
Indicators of Prosperity - 2012

Statistics at a Glance(Mouse over items for details)
Building Permits +20.9%
Consumer Price Index +2.0%
CPI (Annual) +1.2%
Debt: GDP 34.8%
Deficit/Surplus: GDP D: 0.5%
Employment Growth -0.2%
Employment Level 446.3
Exports (Domestic) -14.7%
GDP (millions, 2012) 38397
GDP Growth (2012) -0.1%
Income (per capita) $33,934
Manufacturing Shipments 5.0%
Non-res. Investment -6.2%
Population July 1, 2013 940,789
Res. Investment -17.6%
Retail sales +1.6%
Unemployment Rate 8.6%
Wholesale Trade +2.0%

Orange ClockFor More Information

Thomas Storring
Director of Economics/Statistics
Tel: 902-424-2410
Email: storrith@gov.ns.ca