Canadian manufacturing sales declined 0.2 per cent in
August following three consecutive monthly increases. The decline was largely
the result of falling sales in the energy sector, though motor vehicle and
aerospace manufacturers also saw a dip in shipments. Overall, sales were lower
in 8 of 21 Canadian manufacturing sub-sectors, representing about half of
manufacturing sales.
In BC, where the manufacturing sector employs roughly
170,000 people, sales rose 0.1 per cent on a monthly basis and were up 2.9 per
cent year-over-year. A lower exposure to
the energy sector has allowed BC manufacturers and exporters to continue to
grow their sales this year, which has helped to contribute to the province
leading the country in economic growth. We are currently tracking growth in the
BC economy at approximately 2.7 per cent, compared with just 1.1 per cent for
all of Canada.
Copyright BCREA – Reprinted with permission
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