If retail sales are any indication, New Brunswick has weathered the global recession much better than those in Canada. The latest report card by the Atlantic Provinces Economic Council shows retail sales, excluding gasoline, climbed 1.3 per cent in this province in the first half of 2009. Nationally, retail sales, fell 2.8 per cent in the same time period. Senior Economist, David Chaundy, tells CHSJ news the Atlantic region has seen fewer full-time job losses and stronger wage growth.
While some forecasters see national consumer spending picking up into 2010, Chaundy says growth will be modest by historical standards.
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