Tuesday, March 17, 2015

Canadian Manufacturing Sales

Canadian manufacturing sales fell 1.7 per cent in January, led by an 11.9 per cent decline in petroleum and coal products. However, the unit volume of manufacturing sales fell only 1 per cent, indicating that lower prices were a significant driver of falling dollar volume.  Although sales were down in 14 of 21 manufacturing sub-sectors, sales excluding petroleum and coal products fell just 0.5 per cent. 

In BC, where manufacturing employs close to 170,000 people,  manufacturing sales fell 2.7 cent on a monthly basis in January, but were 2.7 per cent higher year-over-year. BC's diverse range of non-energy exports should translate to its manufacturing and trade sector outperforming other provinces this year, particularly as demand from the US economy ramps up. 

Copyright BCREA - reprinted with permission 

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