Canadian manufacturing sales rose 0.7 per cent in May, only the second increase in sales in the past five months. Sales rose in 11 of 21 manufacturing sub-sectors with gains driven by higher sales in the chemical manufacturing sector.
In BC, manufacturing sales grew 1.6 per cent on a monthly basis and were 2.9 per cent higher year-over-year. May's manufacturing sales were led higher by a 16 per cent increase in the primary metal sector while the recovery in the wood products sector took a bit of a break following several consecutive months of large increases. Wood product sales fell 6 per cent from April but remained 34 per cent higher than May 2012. Stronger manufacturing sales in May continues a string of stronger economic data in BC in recent months that hopefully will mark an inflection point for the provincial economy following a year of relative weakness.
Copyright BCREA -reprinted with permission
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