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Friday, October 21, 2016
British Columbia’s consumer price index (CPI) climbed 1.8% (unadjusted) in September, compared to the same month of the previous year. This marks a small decrease in the year-over-year rate of inflation since August, when it was 2.0%.
According to Statistics Canada, the overall annual inflation rate of 1.8% remains unchanged when energy is excluded from the index, and increases to 2.1% when food is excluded instead.
The overall cost of food remained virtually the same (-0.1%) since September of last year. The cost of groceries purchased from stores decreased (-1.6%), while the cost of meals ...
Consumer Price Index
Thursday, October 20, 2016
Visitor entries to Canada via British Columbia slipped 1.0% (seasonally adjusted) in August. The number of American entries inched down (-0.9%), but this was overshadowed by a dip (-1.4%) in non-U.S. entries, particularly from Asia (-1.9%) and Europe (-0.7%). Meanwhile, the number of Canadians returning home from abroad via B.C. jumped 5.3%.
Nationally, non-resident entries fell 2.3% in August, a slowdown that was largely driven by fewer entries from the U.S. With the exception of Alberta (+1.7%), every province saw declines in entries.
Data Source: Statistics Canada
In August, 53,570 British Columbians were recipients of regular Employment Insurance (EI) benefits, a decrease of 2.6% (seasonally adjusted) over July.
Nationally, the number of Canadians receiving regular benefits dipped 3.0%, partly as a result of hefty drop-offs in the number of claimants in Alberta (-17.3%) and Saskatchewan (-17.9%).
Wednesday, October 19, 2016
British Columbia small businesses generated approximately 35% of the province’s gross domestic product in 2015, well above the Canadian average of 32%. This measure indicates that small business in British Columbia plays a more significant role in the provincial economy than it does in most other parts of the country.
There were approximately 388,500 small businesses operating in British Columbia in 2015, representing about 98% of all businesses in the province. About 79% of small businesses are micro businesses with fewer than five employees. Between 2014 and 2015, the growth rate for micro businesses in British Columbia was 1.4%, an ...
Tuesday, October 18, 2016
Manufacturing sales in British Columbia climbed 2.1% (seasonally adjusted) in August, a notably higher rate than for Canada as a whole (+0.9%). B.C. producers of electrical equipment, appliance and component goods (+12.8%), leather and allied products (+10.5%) and primary metal (+6.3%) made the strongest gains. Among those with weaker returns, the transportation equipment (-4.8%), computer and electronic (-2.9%) and printing (-2.7%) industries experienced the largest percentage declines.
Across the country, gains were widespread, with most provinces recording increases. Stronger sales in Ontario (+0.8%) and Alberta (+2.2%) were the primary contributors to the increase in shipments nationally, while Newfoundland ...
Friday, October 14, 2016
In 2014, approximately nine in ten (86%) Canadians stated that winter storms (including blizzards, ice storms and extreme cold) were the most anticipated weather-related or natural disasters. This was the case across most provinces, with the exception of B.C., where more residents thought earthquakes were a potential risk.
British Columbians felt their communities were at greatest risk of facing earthquakes (77%) and wildfires or forest fires (59%), followed by winter storms (44%), floods (43%) and landslides or avalanches (35%).
Among the provinces, British Columbia had the largest proportion of individuals living in a household with an emergency exit ...
Investment in non-residential building construction in B.C. amounted to $1.5 billion in the third quarter, down (-3.6%) from the second quarter. This marked the first quarterly decrease of 2016. The dip was due to slowed spending in the industrial (-7.8%), institutional and governmental (-4.2%) and commercial (-2.6%) sectors.
Nationally, non-residential building investment totalled $12.5 billion in the third quarter, 0.5% lower than the previous quarter.
non-residential building investment
Thursday, October 13, 2016
Year-over-year, contractors' selling prices for new homes (house and land) in British Columbia climbed 5.2% in August. The increase was entirely due to a jump in the average price for a new house, which saw a 7.6% boost from levels recorded in August of last year. Land prices, on the other hand, were unchanged. The total price for a new home in Vancouver in August was 5.4% higher than it was in the same month of 2015, while the price for new homes in Victoria climbed by 3.8%.
Nationally, the cost of new housing increased 2.7% ...
new housing price index
Tuesday, October 11, 2016
Housing starts in the province’s urban areas (at least 10,000 population) showed continued volatility in September, surging 39.0% (seasonally adjusted at annual rates), following a 9.8% dip in August.
Nationally, urban starts were up 19.7% as gains in new home building activity were recorded in most regions, including particularly hefty boosts in Alberta (+51.0%), Quebec (+33.3%) and parts of Atlantic Canada. Overall increases were moderated by a 4.0% drop in Ontario.
Data Source: Canada Mortgage and Housing Corporation
Friday, October 07, 2016
The unemployment rate in British Columbia was 5.7% in September, up from 5.5% in August. Even though employment remained virtually unchanged (-600), the labour force as a whole grew by 3,200. The unemployment rate was lower compared to September of 2015, when it was 6.4%. In addition, job creation (+61,500) outpaced growth in the labour force (+47,200) over the course of the past twelve months.
Compared to August, there was a decline in full-time jobs (-19,200), while part-time jobs increased (+18,500). For workers aged 15 to 24 and core working-age individuals (25 to 54 ...