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Manufacturing sales boost recession recovery

Manufacturing sales boost recession recovery

Posted on: 8/16/2018 | Author: ATB Financial's Economics + Research Team

​​As Alberta’s economy continues to recover from two years of recession, some economic indicators are showing real rigor, including manufacturing shipments. Sales of manufactured goods reached their highest level in two and a half years in June. Sales rose nearly four per cent to $6.4 billion from May. Compared to a year ago, shipments from Alberta factory floors were up 9.2 per cent.

Statistics Canada notes the growth was largely driven by higher production of petroleum products following temporary shutdowns in April and May. A ramp-up of production at Alberta refineries, which started in May, continued into June and caused sales to rise by 15.4 per cent.

Stability in Alberta’s energy sector has certainly helped the province’s manufacturing sector throughout 2018, but it’s not just energy that’s performing well. Other manufacturing industries are flexing their muscles, too. Most of the manufacturing sub-categories are in line with or above last year’s levels.

Heading into the second half of the year, the sale of manufactured goods in Alberta continues to perform strongly. Even though some segments, like the province’s labour market, have experienced recent hiccups, Alberta’s manufacturing sector will help fuel economic growth in the province this year.

Manufacturing sales, graph​​​​

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