Canadian Manufacturing Sales - September 16, 2016

Canadian manufacturing sales improved in July, reflecting a recovering Canadian economy following a difficult second quarter. Sales rose 0.1 per cent, but were higher in just 9 of 21 manufacturing sectors. In inflation adjusted terms, sales were up 0.6 per cent. 

In BC, where the manufacturing sector employs approximately 170,000 people, sales jumped 2.2 per cent on a monthly basis and 4 per cent year-over-year, reaching their highest level since February 2006. The gains were largely attributable to a growing forestry sector, particularly strong growth in paper manufacturing following shutdowns in June. Manufacturing and trade have been lagging behind the rest of the BC economy this year, so July's strong showing is reason for further optimism about the BC economy. Overall, the BC economy is on track to grow 3.5 per cent this year, well ahead of any other Canadian province. 

Paige Gregson

Paige Gregson

REALTORĀ®
CENTURY 21 Executives Realty Ltd.
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