Canadian manufacturing sales rose for the third
consecutive month, edging up 0.4 per cent in March. Sales were higher in 11 of 21 manufacturing
sub-sectors.
In BC, manufacturing sales fell 0.6 per cent on a monthly
basis, but were 0.6 per cent higher than March 2013. Through the first quarter of the year,
manufacturing sales are 3.1 per cent higher than the first quarter last year.
The durable goods sector, which includes wood products, mineral products and
machinery and equipment manufacturing, continued to be a drag on manufacturing
output as previous sources of strength such as wood products have struggled to
start the year. Non-durable goods like paper, clothing, and food manufacturing,
were also lower in March, but have posted a 9 per cent gain in the first
quarter when compared to 2013.
The manufacturing sector employs approximately 170
thousand people in British Columbia, or roughly 7.5 per cent of the BC
workforce. Therefore, growth in
manufacturing output should help spur job growth which would support the BC
housing market, particularly in regions
with a high concentration of manufacturing activity.
Copyright BCREA –reprinted with permission
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