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Friday, July 22, 2016
British Columbia’s consumer price index (CPI) climbed 2.0% (unadjusted) in June, compared to the same month of the previous year. This marks an increase in the year-over-year rate of inflation since May, when it was 1.7%.
According to Statistics Canada, the overall annual inflation rate of 2.0% increases to 2.5% when energy is excluded from the index. Removing food from the index has no impact on the overall rate of inflation.
The overall cost of food rose by 1.7% since June of last year, with the cost of both groceries purchased from stores (+1.3%) and meals purchased ...
Consumer Price Index
British Columbia’s retailers registered a slight (+0.1%, seasonally adjusted) increase in sales in May, reflecting improved sales at the province’s gasoline stations and beer, wine and liquor stores.
Nationally, retail activity inched up 0.2% partly due to a decline at food and beverage stores (+2.1%). Higher prices at the pump also resulted in stronger sales at gasoline stations (+2.3%). Sales were up in six provinces with the most substantial increases being registered in Quebec and Newfoundland and Labrador (each up +1.0%).
Data Source: Statistics Canada
Thursday, July 21, 2016
The number of B.C. residents receiving regular Employment Insurance (E.I.) payments totalled 51,770 (seasonally adjusted) in May, a 1.8% increase from April. Despite the recent increase, the number of beneficiaries remained lower (-1.4%) than in May of 2015.
Nationally, the number of E.I. beneficiaries edged up (+0.9%), with just three provinces recording increases. A 12.1% jump in the number of E.I. recipients in Alberta was the driving force behind the increase at the national level. Since May of 2015, the number of beneficiaries in Canada has climbed 2.4%, due in large part to a 58.6% year-over-year surge recorded ...
Wholesale sales in British Columbia rose 1.0% (seasonally adjusted) in May, marking the second month of growth in the sector. At the national level, wholesale sales were up 1.8%, propelled by sales in the food (+6.4%), motor vehicle (+12.5%) and pharmaceuticals and pharmacy supplies (+13.1%) industries.
Across the provinces, sales increased steadily, with Alberta as the only province recording a decline.
Wednesday, July 20, 2016
Visitor entries to B.C. slipped (-5.6%, seasonally adjusted) in May, due to reduced visitor traffic from the United States (-3.5%) and overseas (-9.6%). Entries from Asia (-7.0%) and Europe (-3.1%) contributed most substantially to the decline in visitors from abroad, but entries from other major regions were also down.
Nationally, visitor entries fell 1.1%, the first decrease recorded since October 2015 (-0.6%).
Police-reported crime in British Columbia increased slightly in 2015 with both the traditional crime rate (+3%) and the Crime Severity Index (+4%) climbing. The traditional police-reported crime rate measures the volume of police-reported crime relative to the population size. The Crime Severity Index is calculated using weights based on average sentences imposed and intends to provide a measure that weighs less frequent yet heinous crimes, such as murder or sexual assault, more heavily than less serious but more numerous offenses such as shoplifting or mischief. The upturn in these two measures indicates a rise in both the volume and ...
Friday, July 15, 2016
Investment in non-residential building construction in the province rose 2.2% (seasonally adjusted) in the second quarter of 2016. Higher spending on commercial buildings (+5.9%), such as office buildings and retail and wholesale outlets, was responsible for the overall increase, as spending on institutional buildings fell 5.6% and investment in industrial complexes was unchanged.
Among the province’s metropolitan areas, there was substantial growth in investment in non-residential building construction in Kelowna (+20.6%), while Vancouver (+2.0%) and Victoria (+3.3%) also saw growth. However, Abbotsford-Mission experienced a 5.2% drop in investment.
Canadian non-residential construction expenditures inched up only 0.2% as ...
non-residential building investment
Sales of goods produced by British Columbia’s manufacturing sector rebounded in April, rising 1.1% (seasonally adjusted), on the heels of a 1.3% drop in March. The strongest growth in sales occurred in the wood product (+3.9%) and food manufacturing (+2.4%) industries. Growth was restrained by sharp declines in sales of computer and electronic products (-10.0%) and furniture and related products (‑4.8%).
Nationally, manufacturing sales fell 1.0% with significant reductions in Ontario (-1.4%) and Alberta (‑2.0%) driving much of the decline. Newfoundland and Labrador suffered the largest decrease, with a drop in sales of 10.6%, while the strongest growth ...
Thursday, July 14, 2016
The median after-tax income for all types of households (including both economic families of two or more persons and unattached individuals) in British Columbia was $54,600 (2014 constant dollars, includes government transfers) in 2014. B.C. ranked fifth (joint with Manitoba) among the provinces, just below the national average of $55,600. Three provinces had median after-tax income above the national average of $53,000: Alberta, Saskatchewan, and Ontario.
In British Columbia, families of two persons or more had a median income of $77,100 while unattached individuals had a median income of $29,700. Within families of two persons or more, the median ...
The cost of new housing in B.C.’s two biggest metropolitan areas continued to climb in May. New house prices in Victoria were 2.4% higher than in May 2015, reflecting the effect of rising house values (+3.3%). Meanwhile, Vancouver’s New Housing Price Index was up 5.1%, with inflationary pressure also coming from more expensive housing (+7.9%). Land values in both cities were unchanged from May of last year.
Toronto/Oshawa (+4.9%) posted the biggest year-over-year increase in the country, more than double the national average (+2.1%).
new housing price index
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