Factory sales in Alberta tapered to end 2022
The main reason for the decline was a 16.7% ($481 million) pullback in petroleum and coal product revenue
By Rob Roach, ATB Economics 16 February 2023 1 min read
New data from Statistics Canada show that seasonally-adjusted manufacturing sales in Alberta in December 2022 were 5.8% ($541 million) lower than the month before.
Although sales were down in several sectors, the main reason for the decline was a 16.7% ($481 million) pullback in petroleum and coal product revenue, largely due to lower prices.
Other sectors that saw sales contract include wood products (-11.2%), chemicals (-2.2%) and food products (-1.7%).
At the other end of the continuum, primary metal manufacturing sales increased by 25.5%, computer and electronic product sales by 22.5%, and printed product sales by 20.9%.
Nationally, month-over-month sales contracted by 1.5% in December with revenue down in every province except Saskatchewan and Newfoundland and Labrador.
On an annual basis, manufacturing sales in Alberta were much stronger in 2022 than in 2021.
Manufacturing revenue in the province was 27.8% ($23.5 billion) higher on the year with petroleum and coal products accounting for 60.5% of the improvement.
Answer to the previous trivia question: Construction of the Calgary Tower (née Husky Tower) was completed in 1968 for a cost of $3.5 million.
Today’s trivia question: Approximately how many parts does it take to build a Boeing 747?