Canadian Manufacturing Sales – November 15, 2012

Canadian manufacturing sales rose 0.4 per cent in September, following a 1.5 per cent increase in August.   However, the headline number masks underlying weakness. Excluding the aerospace and primary metals industries which accounted for most of September’s gain, sales were actually 0.7 per cent lower.  Indeed, sales rose in just 8 of 21 manufacturing industries. Canadian manufacturing sales finished the third quarter roughly flat from the second quarter and were 3 per cent higher than 2011.

A slowdown in global economic growth is clearly impacting the BC manufacturing sector, one of BC’s largest employers. Manufacturing sales fell 1.2 per cent in September, offsetting a similar gain in August and were off 0.4 per cent year-over-year. Third quarter manufacturing sales grew 2.1 per cent from the second quarter of the year but are just 0.8 per cent higher year-to-date.

For more information, please contact: Gino Pezzani

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