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Manufacturing finds its groove

Manufacturing finds its groove

Posted on: 3/19/2018 | Author: ATB Financial's Economics + Research Team

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For the first time in a little more than three years, sales from Alberta factories and shop floors have reached pre-recession highs. In January, total manufacturing shipments grew 1.1 per cent from December and reached $6.3 billion. Compared to January of last year, manufacturing shipments were up more than 11 per cent.

Sales gains were recorded in about half of all of manufacturing’s sub-sectors. Transportation equipment manufacturing came out on top with shipments in this category growing seven per cent from the end of last year. In a sign that Alberta’s energy industry is growing, significant sales gains were seen in chemical (+6.4 per cent), petroleum (+5.4 per cent) and fabricated metal manufacturing (+4.7 per cent).

The province’s manufacturing sector is starting the new year with some real momentum. Shipments in almost every sub-sector of manufacturing remain well above the previous year’s levels. Much of the momentum has to do with the stabilization and resurgence of Alberta’s energy sector. For example, petroleum manufacturing is up more than 15 per cent year-over-year, and sales of manufactured machinery are up by close to 26 per cent.

As economic conditions continue to improve and as Alberta’s energy sector continues to rally, manufacturing as a whole will help stimulate our province’s economic growth.

Manufacturing shipments, graph​ ​

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