Economic Data & Reports

Halifax Partnership - Halifax Economic Report - October 2016

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

October 2016 Economic Highlights 

  • 2016 continues to be a strong year for Halifax, driven by growth in shipbuilding, construction projects, and the service sector.

  • Shell Canada has been approved to resume drilling off Nova Scotia in the first of their two wells.

  • Housing and apartment starts are down 27.1% compared to the same time period last year. This large decrease is a function of the exceptionally high number of apartment starts in May and June of 2015.

Indicator Units  Period 2015  2016  Change 
Labour Market
Real Gross Domestic Product (GDP) at basic prices $millions (2007) Annual 18,300 18,808(f)  2.8%
Population 000's Annual 417.8 422(f)  1.0%
Employment  000's Jan-Sept 224.1 225.9  0.8%
Unemployment % Jan-Sept 6.4% 6.3%  -0.1 pts
Labour Force 000's Jan-Sept 239.2 240.9  0.7%
Participation Rate % Jan-Sept 68.8%
68.3% -0.5 pts
 Consumer Markets
Average Weekly Earnings  Current $ Jan-Aug 872 888  1.8%
Consumer Price Index Index (2002) Jan-Sept 128.1 129.7  1.6%
Retail Sales $millions Jan-Jul 2,759 2,930  6.2%
Aircraft Passengers  000's Jan-Sept 2,871 3,025  5.4%
Cruise Ship Passengers 000's Jan-Sept 141.5 147.7  4.3%
Containerized Cargo  000's TEUs Jan-Sept 305.3 354.5  16.1%
Housing & Construction Markets 
Housing Starts  - Jan-Aug 2,295 1,672  -27.1%
Housing Resales  - Jan-Aug 2,028 2,122  4.6%
Value of Building Permits $millions Jan-Aug 495.8 346.1 -30.2%
Non-Residential Construction $millions (2007) Jan-Jun 180.6 159.3 -11.8%
(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

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