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May 16, 2023MANUFACTURING SHIPMENTS, MARCH 2023 Month over month (seasonally adjusted, March 2023 vs February 2023)
Nova Scotia's manufacturing shipments increased 0.5% to $860 million. National shipments increased 0.7% to $72.3 billion.
Manufacturing shipments were up in 5 of 10 provinces, Prince Edward Island led the country with the largest reported growth. Manitoba and New Brunswick reported the largest declines.
Year over year (March 2023 vs March 2022)
Nova Scotia's manufacturing shipments decreased 7.1%. National shipments increased 0.9%.
Manufacturing shipments were up in 5 of 10 provinces, led by Prince Edward Island. New Brunswick reported the largest decline.
Year to date (seasonally adjusted, January-March 2023 vs January-March 2022)
Nova Scotia's manufacturing shipments decreased 1.5%. National shipments increased 5.8%.
Manufacturing shipments were up in all provinces except British Columbia, New Brunswick and Nova Scotia. Prince Edward Island reported the fastest growth.
Nova Scotia's durable goods shipments increased 0.7%, while non-durable goods shipments decreased 2.7%. In Halifax, durable goods shipments increased 5.1%, while non-durables increased 18.7%. Outside Halifax, durable goods shipments decreased 3.8%, while non-durables decreased 7.0%.
Trends
After reporting a large increased in May of 2022, Nova Scotia's seasonally adjusted manufacturing shipments have fallen back towards previous trends. Periodic spikes in Nova Scotia's shipments values are not uncommon. Throughout most of 2022 and 2023, Nova Scotia's manufacturing shipments growth has lagged the national pace.
Statistics Canada. Table 16-10-0047-01 Manufacturers' sales, inventories, orders and inventory to sales ratios, by industry (dollars unless otherwise noted); Table 16-10-0048-01 Manufacturing sales by industry and province, monthly (dollars unless otherwise noted) (x 1,000); Table 16-10-0011-01 Manufacturing sales, by industry for 12 Selected Census Metropolitan Areas (x 1,000)
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