Canadian manufacturing sales rose 1.7 per cent in December in spite of a 9.3 per cent fall in sales of petroleum products. Sales were higher in 17 of 21 manufacturing sub-sectors.
In BC, where manufacturing employs close to 170,000 people, manufacturing sales rose 2.9 cent on a monthly basis in December, and were 8.6 per cent higher year-over-year. For all of 2014, BC manufacturing sales grew at a robust rate of 6.7 per cent, the fastest rate of growth since 2011. A continued upswing in manufacturing sales should help spur employment and household income growth in 2015, which would be strongly supportive of housing demand.
Copyright BCREA - reprinted with permission
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