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January 21, 2022RETAIL TRADE, NOVEMBER 2021 With November reference month results, year-over-year (Nov 2021 vs Nov 2020) and year-to-date (Jan-Nov 2021 vs Jan-Nov 2020) show rebounds in economic activity from the unprecedented declines observed in the first wave of the COVID-19 pandemic.
MONTH OVER MONTH (seasonally adjusted, Nov 2021 vs Oct 2021)
In Nova Scotia retail trade decreased -0.2% to $1,598.7 million. Nationally, retail trade increased 0.7% to $58.1 billion.
Seven provinces reported monthly increases in retail trade, with New Brunswick (3.0%) reporting the largest gain and Prince Edward Island (-1.2% reporting the largest decline.
YEAR OVER YEAR (seasonally adjusted, Nov 2021 vs Nov 2020)
In Nova Scotia retail trade increased 8.4%. Nationally, retail trade increased 4.4%.
All provinces reported year-over-year increases in retail trade, with Manitoba (14.8%) reporting the largest gain, and Quebec (2.3%) reporting the smallest gain.
YEAR TO DATE (seasonally adjusted, Jan-Nov 2021 vs Jan-Nov 2020)
Nova Scotia retail trade increased 16.9%. Nationally, retail trade increased 11.9%.
All provinces reported year-to-date increases in retail trade, with Prince Edward Island (20.5%) reporting the largest gain and Ontario (9.1%) reporting the smallest gain.
NOVA SCOTIA SECTORS
YEAR TO DATE (Unadjusted, Jan-Nov 2021 vs Jan-Nov 2020)
Retail trade increased 16.7% or $2,412.4 million.
In dollar terms, motor vehicle ($938.8 million) contributed the most to the increase. Gas stations ($517.4 million) and building material ($274.7 million) also contributed to the increase. The smallest increases were reported in sporting & hobbies ($39.2 ) and electronics ($35.0 ).
TRENDS
While there was a sharp decline brought on by the onset of the pandemic in 2020, retail sales recorded stronger growth over the past two years than prior to 2020. Comparing Jan-Nov 2021 with Jan-Nov 2020, Nova Scotia’s retail sales grew 13.8% while national sales rose 9.7%. In the two years prior to the pandemic (Jan-Nov 2019 vs Jan-Nov 2017), retail sales increased by 2.9% in Nova Scotia and by 4.3% nationally.
E-Commerce (seasonally adjusted, November 2021)
In November 2021, Canada's ecommerce sales decreased 3.5% to $3.3 billion (5.8% 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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