A very solid start to the year for the Canadian
manufacturing sector as sales rose 2.3 per cent to $53.1 billion, the highest
level on record. Sales were led higher by gains in the motor vehicle, food and
motor vehicle parts sectors, which accounted for 85 per cent of growth in
January. In inflation adjusted terms,
sales in January were at their highest level since July 2008, finally
surpassing levels last seen before the 2008/09 recession.
In BC, where the manufacturing sector employs
approximately 170,000 people, sales rose 0.7 per cent on a monthly basis and
just 0.8 per cent year-over-year. The
current slowdown in China is clearly having an impact on BC's trade and
manufacturing sector, though stronger growth in the US and a low dollar should
provide a boost to growth in coming months.
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