Manufacturing moving in wrong direction
A $230.2 billion (-13.4%) drop in petroleum refinery sales was the largest contributor to the monthly decrease in Alberta
By Rob Roach, ATB Economics 15 November 2021 1 min read
After reaching a record high in May, seasonally adjusted manufacturing sales in Alberta fell for the fourth consecutive month in September.
Monthly sales went from $7.1 billion in August to $6.9 billion in September for a decline of 2.9%.
National manufacturing sales also fell, going from $60.3 billion in August to $58.5 billion in September for a drop of 3.0%.
Nationally, most of the decline is attributable to lower sales of motor vehicles due to the global shortage of semiconductors, but this was not a factor in Alberta where a $230.2 million (-13.4%) drop in petroleum refinery sales was the largest contributor to the monthly decrease.
Sales in Alberta were also down in five other sub-sectors: machinery (-10.2%), wood products (-7.3%), paper products (-6.1%), furniture (-2.4%) and primary metals (-1.2%).
Food manufacturing sales were up the most in absolute terms (+$79.2 billion) while plastics were up the most in percentage terms (+10.3%).
Answer to the previous trivia question: Alberta’s real GDP was $319.7 billion in 2020 compared to $265.8 billion for BC.
Today’s trivia question: What is the largest factory in the world by floor area?