Tuesday, April 15, 2014

Canadian Manufacturing Sales - April 15, 2014


Canadian manufacturing sales increased for the second consecutive month in February, rising 1.4 per cent.  At $51.2 billion, February's manufacturing sales were the highest since July of 2008.  

In BC, manufacturing sales fell 3 per cent on a monthly basis, but were 3.4 per cent higher than February 2013.  The durable goods sector, which includes wood products, mineral products and machinery and equipment manufacturing, posted a 4.4 per cent monthly decrease. Non-durable goods like paper, clothing, and food manufacturing, declined 1.5 per cent.  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.