Canadian Manufacturing Sales - November 16, 2016
Canadian manufacturing sales rose 0.3 per cent in September, the fourth consecutive monthly increase. Sales were higher in 12 of 21 manufacturing sub-sectors, however after adjusting for inflation, the total volume of sales was actually down 0.2 per cent.
In BC, where the manufacturing sector employs approximately 170,000 people and is a key driver of economic growth, sales were up 0.6 per cent on a monthly basis and 7.8 per cent year-over-year. A strengthening manufacturing sector in recent months, and in particular a growing forestry sector, has helped BC maintain its Canada leading rate of economic growth, which we estimate to be around 3.5 per cent through the first nine months of the year.
Copyright British Columbia Real Estate Association. Reprinted with permission.
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