Retail Trade Boosts Growth in 2013

Growth in population and personal income resulted in solid increases in retail sales in the St. John’s Census Metropolitan Area (CMA) in 2013. The annual Economic Review for 2013 notes:

• increases in Real Gross Domestic Product (GDP) in St. John's CMA
• continued growth in St. John's CMA population
• some constraint in the labour market

“A growing population supports a growing economy,” says Mayor Dennis O’Keefe. “The impact of growth in income and retail sales is certainly evident in St. John’s as new businesses enter the market and retail areas are developed.” 
 
In 2014 economic growth as measured by GDP is anticipated to increase albeit at a slower rate.
 
“We expect continued wage gains to drive growth and personal income which in turn bolsters consumer confidence”, says Councillor Dave Lane, Co-Chair of the Economic Development, Tourism and Public Engagement Standing Committee.
 
Further information about the 2013 economic review and forecast for 2014 can be found at www.stjohns.ca.
 
The St. John’s Census Metropolitan Area (CMA) is a Statistics Canada geographically defined area including St. John’s and neighbouring communities.
 
Data prepared by Government of Newfoundland and Labrador, Department of Finance (Economic Research and Analysis Division) and the City of St. John's (Office of Strategy & Engagement), January 2014. Full report (Economic Review 2013) available online in the publications section at www.stjohns.ca.
 
For further information:
Shelley Pardy
Communications and Public Relations Officer
City of St. John's
Phone: (709) 576-4510
Cell: (709) 699-4091
E-mail: communications@stjohns.ca
 
Dennis O’Keefe
Mayor
City of St. John’s
Phone: (709) 576-8477
E-mail: dokeefe@stjohns.ca
 
Dave Lane
Councillor at Large
Co-chair, Economic Development, Tourism and Public Engagement Standing Committee
City of St. John’s
Phone: (709) 576-8243
E-mail: dlane@stjohns.ca