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December 21, 2021RETAIL TRADE, OCTOBER 2021 With October reference month results, year-over-year (Oct 2021 vs Oct 2020) and year-to-date (Jan-Oct 2021 vs Jan-Oct 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 Oct 2021 vs Sep 2021)
In Nova Scotia retail trade increased 0.1% to $1,620.7 million. Nationally, retail trade increased 1.6% to $57.6 billion.
Nine provinces reported monthly increases in retail trade, with Prince Edward Island (10.4%) reporting the largest gain and Quebec (-0.2%) reporting the only decline.
YEAR OVER YEAR (seasonally adjusted Oct 2021 vs Oct 2020)
In Nova Scotia retail trade increased 11.7%. Nationally, retail trade increased 5.3%.
Ten provinces reported year-over-year increases in retail trade, with Prince Edward Island (18.4%) reporting the largest gain. Quebec (3.5%) reporting the smallest gain.
YEAR TO DATE (seasonally adjusted Jan-Oct 2021 vs Jan-Oct 2020)
Nova Scotia retail trade increased 18.1%. Nationally, retail trade increased 12.7%.
Ten provinces reported year-to-date increases in retail trade, with Prince Edward Island (21.9%) reporting the largest gain and Ontario (9.5%) reporting the smallest gain.
NOVA SCOTIA SECTORS
YEAR TO DATE (Unadjusted Jan-Oct 2021 vs Jan-Oct 2020)
Retail trade increased 17.6% or $2,277.0 million.
In dollar terms, motor vehicle ($923.5 million) contributed most to the increase and gas stations ($463.3 million) and building material ($254.5 million) also contributed to the increase. The smallest increases were reported in electronics ($35.4 million) and sporting and hobbies stores ($39.2 million).
TRENDS ( January 2013 to October 2021)
Nova Scotia's retail sales declined sharply from February 2020 to April 2020. Retail sales rebounded over the next twelve months. Compared to February 2020, Nova Scotia's October 2021 retail sales were 18.8% above their pre-pandemic levels.
National retail sales also rebounded after the sharp decline in March and April 2020. In October 2021, retail sales had increased 10.8% above pre-pandemic levels. Ontario is catching up to the other provinces with retail sales increasing 6.2% above pre-pandemic levels. Most provinces have weathered the downturn with retails sales increases ranging from 6.2% to 29.7% above pre-pandemic levels.
E-Commerce (seasonally adjusted October 2021 vs September 2021)
In October 2021, Canada's ecommerce sales decreased 0.9% to $3.5 billion or 6.1% 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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