Economic Data & Reports

The Halifax Partnership measures growth in Halifax by tracking key economic indicators that detail trends affecting Halifax's business climate.

Halifax Quarterly Economic Highlights - Summer 2018

  • Halifax’s GDP growth rate is forecasted to outpace both national and provincial figures, averaging 1.7% between 2018 and 2022.

  • Transportation and warehousing are poised to lead growth in 2018, followed by professional, scientific, and technical services. Wholesale and retail trade are anticipated to lead growth through 2022.

  • Average weekly earnings in Q2 2018 fell by 1.1% since last quarter, decreasing from $908 to $898.

  • Q2 2018 retail sales grew 1.9% over Q1 2017, an increase of $36 million in sales. Retail sales over the last twelve months reached $8 billion, an increase of 5.9% over the previous year.

  • Migration to Halifax remained high throughout 2016-2017 but fell shy of 2015-2016’s banner numbers. Immigration continues to increase while emigration remains consistent.

  • 2018 builds on four straight years of growth in airport passenger volume, with a 12.8% increase in year-to-date passengers over 2017.

View the full Summer 2018 Halifax Economic Snapshot »

Indicator Units  Period 2017 2018 Change 
Labour Market
Real Gross Domestic Product (GDP) at basic prices $millions (2007) Annual 18,512 18,831(f) 1.7%
Population 000's Jan-Mar 436.0 444.0(f) 1.9%
Employment  000's Jan-Mar 222.6 227.6 2.3%
Unemployment % Jan-Mar 6.5% 6.6% 0.1 pts
Labour Force 000's Jan-Mar 238.1 243.6 2.3%
Participation Rate % Jan-Mar 66.7%
67.2% 0.4 pts
 Consumer Markets
Average Weekly Earnings  Current $ Jan-Mar 875 908 3.8%
Consumer Price Index Index (2002) Jan-Mar 130.5 133.0 0.0 pts
Retail Sales $millions Jan-Mar 1,237 1,343 8.6%
Aircraft Passengers  000's Jan-Mar 812 836 3.0%
Cruise Ship Passengers 000's Jan-Mar 0.0 0.0 0.0%
Containerized Cargo  000's TEUs Jan-Mar 130.8 134.4 2.8%
Housing & Construction Markets 
Housing Starts - - Jan-Mar 494 381  -22.9%
Housing Resales  - Jan-Mar 5,124(f) 5,413(f) 2.0%
Value of Building Permits $millions Jan-Mar 181.5 112.4  -38.1%
Non-Residential Construction $millions (2007) Jan-Mar 55.2 80.5 45.8%

(f) - Forecasted Data
Sources: Statistics Canada, Canada Mortgage and Housing Corporation, Conference Board of Canada, Halifax International Airport Authority, Port of Halifax

Notes: Labour Force statistics are seasonally adjusted and the 3-month moving averages for the period. Investment is also seasonally adjusted. f = forecast.

For more detailed economic information, click on the links below, view the latest Economic Snapshot or download the Halifax Index

Economic Growth Plan

The Halifax Economic Growth Plan 2016-21 sets out a bold vision for the future. A vision that sees Halifax taking its place as the economic engine for the region.

Learn more about the Growth Plan

Research & Reports

The Halifax Partnership provides existing businesses and potential investors with research and analysis. See our latest reports here.

More on Research & Reports

Halifax Index

Our signature report tracks our progress towards many different indicators and our special analyses tackle two of our most pressing issues – the need for immigration and Halifax's commercial tax system.

Read the 2018 Halifax Index

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