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July 14, 2023MANUFACTURING SHIPMENTS, MAY 2023 Monthly (seasonally adjusted, May 2023 vs April 2023)
Nova Scotia's manufacturing shipments increased 3.6% to $905 million. National shipments increased 1.2% to $72.9 billion.
Manufacturing shipments were up in 5 of 10 provinces, Alberta and Nova Scotia had the largest reported growth. Newfoundland and Labrador reported the largest decline.
Year-over-year (May 2023 vs May 2022)
Nova Scotia's manufacturing shipments decreased 9.9%. National shipments increased 0.2%.
Manufacturing shipments were down in 6 out of 10 provinces. Newfoundland and Labrador reported the largest decline while Ontario posed the largest increase.
Year-to-date (seasonally adjusted, January-May 2023 vs January-May 2022)
Nova Scotia's manufacturing shipments decreased 2.9%. National shipments increased 2.9%.
Manufacturing shipments were up in 6 of 10 provinces. Prince Edward Island reported the largest increase. New Brunswick and Newfoundland and Labrador reported the steepest declines.
Nova Scotia's durable goods shipments decreased 2.5%, while non-durable goods shipments decreased 3.0%. In Halifax, durable goods shipments increased 3.4%, while non-durables increased 5.6%. Outside Halifax, durable goods shipments decreased 8.7%, while non-durables decreased 4.7%.
Trends
After reporting a large increased in May of 2022, Nova Scotia's seasonally adjusted manufacturing shipments have fallen back below previous trends. Periodic spikes in Nova Scotia's shipments values are not uncommon. Throughout most of 2023, Nova Scotia's manufacturing shipments growth has fallen while national shipments have grown.
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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