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