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April 22, 2022RETAIL TRADE, FEBRUARY 2022 MONTH OVER MONTH (seasonally adjusted Feb 2022 vs. Jan 2022)
In Nova Scotia retail trade increased 4.3% to $1,628.0 million. Nationally, retail trade increased 0.1% to $59.9 billion. Four provinces reported monthly increases in retail trade, with Manitoba (5.1%) reporting the largest gain and Newfoundland and Labrador (-7.8%) reporting the largest decline.
YEAR OVER YEAR (seasonally adjusted Feb 2022 vs. Feb 2021)
In Nova Scotia retail trade increased 6.0%. Nationally, retail trade increased 7.4%.
Ninel provinces reported year-over-year increases in retail trade, with Saskatchewan (13.0%) and Ontario (12.9%) reporting the largest gains, and Prince Edward Island (-1.9%) reporting the only decline.
YEAR-TO-DATE (Jan-Feb 2022 vs. Jan-Feb 2021)
Nova Scotia retail trade increased 4.4%. Nationally, retail trade increased 10.8%. All provinces reported year-to-date increases in retail trade, with Quebec (17.6%) reporting the largest gain and British Columbia (0.6%) reporting the smallest gain.
NOVA SCOTIA SECTORS
YEAR TO DATE (Unadjusted Jan 2022 vs. Jan 2021)
Retail trade increased 3.2% or $77.7 million.
In dollar terms, gas stations ($35.7 million) contributed most to the increase. Food & beverage ($22.7 million) and health ($18.4 million) also contributed to the increase. Declines were reported in clothing (-1.0 million), sporting & hobbies (-$1.8 million ) and motor vehicle (-$39.0 million).
TRENDS
While there was a sharp decline at the onset of the pandemic in 2020, retail sales returned to pre-COVID level relatively quickly in 2020 and have been on an upward, although volatile, trend over the past 18 months.
E-Commerce
In February 2022, Canada's ecommerce sales decreased 4.6% to $3.3 billion or 5.5% of total retail sales.
REFERENCES
Statistics Canada. Tables 20-10-0072-01 Retail E-commerce sales, unadjusted (x 1,000) , 20-10-0008-01 Retail trade sales by province and territory (x 1,000)
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