Canadian manufacturing sales increased 3.4 per cent to a record high $55.5 billion in November, a height primarily achieved due to higher sales in the transportation equipment, petroleum and coal and chemical industries. Sales were up in 12 of 21 manufacturing sub-sectors, reflecting broad-based growth in the Canadian manufacturing sector.
In BC, manufacturing sales increased 0.7 per cent on a monthly basis and were up 7.1 per cent year-over-year. The BC manufacturing sector has thus far been able to move past disruptions in the forestry sector due to US trade policy, and has now posted four straight months of growth. Sales have moved higher in 8 of the last 9 months and employment in the sector has been rising, contributing to BC's overall strong job growth and associated housing demand.
Copyright British Columbia Real Estate Association. Reprinted with permission.