July 2015 Maritimes Economic Fundamentals

Ally

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June 2015 housing starts in Prince Edward Island


HALIFAX, NOVA SCOTIA--(Marketwired - July 9, 2015) - Housing starts in Prince Edward Island's urban areas were trending at 296 units in June compared to 293 in May according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

"The trend measure for housing starts in Prince Edward Island's urban areas remained stable in June," said Sarena Teakles, Senior Market Analyst with CMHC's Atlantic Market Analysis Centre. "Year-to-date housing starts in Charlottetown were on par with those from last year; fewer multiples starts in Summerside drew total housing starts below year-earlier figures," added Teakles.

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Ally

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June 2015 housing starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwired - July 9, 2015) - Housing starts in Halifax, Census Metropolitan Area (CMA) were trending at 2,791 units in June compared to 1,982 in May according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

"Elevated levels of multiples starts increased the pace of residential construction again in Halifax in June," said Guillaume Neault, Principal, Market Analysis with CMHC's Atlantic Market Analysis Centre. "Actual single-detached starts continue to experience weakness while the lion's share of residential construction stemmed from multiples starts," added Neault.


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Ally

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Nova Scotia unemployment rate drops to 8% in June

Nova Scotia’s unemployment rate dipped to eight per cent last month, mainly because more people left the labour force this spring.

Overall employment in the province was largely unchanged in June from the previous month, Statistics Canada reported Friday. While full-time employment was flat, part-time employment shrank by one per cent, based on seasonally adjusted figures.

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Ally

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#5
PEI rent increases for next year being considered

The Island Regulatory and Appeals Commission (IRAC) is inviting submissions to help decide what the allowable rent increase for next year will be.


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