Business Is Good In Moncton, In Real Time

David Campbell is a Moncton-based economic development consultant and co-host of the Huddle podcast, Insights. The following piece was originally published on his blog, It’s the Economy, Stupid!, on Substack.

The Moncton region is taking quite a bit of heat these days: complaints about housing costs, rising homelessness, crime, difficulties accessing health care. Much of this is based on reality;  the region is growing faster than at any time in history and services are not keeping up. But, as has become my mantra, it’s better to have the problems of growth than decline.

Statistics Canada has a slightly different perspective on Moncton.

Starting in the early days of the pandemic, the agency developed the RealTtime Local Business Conditions Index (RT-LBCI). It is considered an experimental statistic and “intended to provide a real-time signal on business activities following the disruptions brought about by the pandemic and through the recovery phase.”

They are doing this for 30 urban centres (the only one in New Brunswick is Moncton). Data on business operating conditions are generated from three commercial APIs sources: Google Places, Yelp Fusion, and Zomato. Those sources use cell phones and other sources to track retail, restaurant, and other activities. The agency combines this with internal data to develop the RT-LBCI. You can read more about it here.

Based on this index, business is booming these days in Moncton. Restaurants are full. People are buying stuff. There are wait lists to access services. In short, business is good – in real time.

In fact, Moncton now ranks 2nd among the 30 urban centres across Canada on this index. As of October 24, Moncton’s index number was 401 (August 2020 = 100).

So, folks in Moncton, you should celebrate the fact that things are hopping but then buckle down and figure out how to ensure the community can grow without exacerbating all of the challenges that come with growth.

Huddle publishes commentaries from groups and individuals on important business issues facing the Maritimes. These commentaries do not necessarily reflect the opinion of Huddle. To submit a commentary for consideration, contact our editor, Trevor Nichols: [email protected].