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 - Fall 2018

  • Halifax’s GDP growth rate is forecasted to outpace the provincial figure but will track just below Canada’s estimated growth rate between 2018 and 2022.
  • Consumer purchasing power has increased since the last quarter.
  • International student enrolment continues to climb in 2018. The retention rate remains significantly above levels of only a few years ago.
  • Both the labour force and employment grew over last year while the unemployment rate fell.
  • 2018 builds on four straight years of growth in airport passenger volume; however, Q3 2018 Port of Halifax cargo traffic fell slightly.
  • Total investment in non-residential construction in Q3 was up 3.3% from Q3 2017 investment figures. 
  • In 2018 the Halifax apartment market continued to tighten as average monthly rent for a two-bedroom apartment rose to $1,156 and the apartment vacancy rate fell for the third consecutive year to just 1.6%.
  • Some relief may be in sight as the number of units under construction in Halifax has reached a historic high.
  • The vacancy rate for Downtown Class A office space dropped for the first time since Q3 2017. Rents have been stable through 2018.
  • The industrial rental market is tightening as we saw a decrease in availability and an increase in average asking net rent in Q3 2018.

View the full Fall 2018 Halifax Economic Snapshot »
For more detailed economic information, click on the links below and 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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