Manufacturing sales in British Columbia were $3.6 billion in August – a year-over-year increase of 9.4% – according to Statistics Canada data released October 16.
This is more than three percentage points higher than the national growth rate of 6.1% over the same period, bringing August’s Canada-wide manufacturing sales to $52.1 billion and higher than the growth rates seen in Alberta (up 4.8% to $6.7 billion), Saskatchewan (up 6.7% to 1.3 billion) and Manitoba (up 6.7% to $1.3 billion).
The highest growth was found in Prince Edward Island, which recorded an increase of 24.1% to $151 million.
Between July and August, manufacturing sales grew 0.6% in B.C., making the province one of the few that did not post declines over the month. Nationwide, there was a 3.3% drop in sales in this area. CIBC World Markets economist Nick Exarhos said analysts expected a 2.0% drop. This was the first decline in 2014, and reversed gains seen in June and July.
Almost half of the drop was due to decreased sales in motor vehicles and parts.
“After lower than normal seasonal shutdowns for retooling in the auto sector boosted output in July, the payback came in August,” Exarhos said.
Across the country the biggest percentage drop between July and August was posted in leather and allied products, falling 31.9% to $27 million.
