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September 15, 2023MANUFACTURING SHIPMENTS, JULY 2023 Monthly (seasonally adjusted, July 2023 vs June 2023)
Nova Scotia's manufacturing shipments decreased 8.7% to $854 million. National shipments increased 1.6% to $71.9 billion.
Manufacturing shipments were up in 7 of 10 provinces, Saskatchewan had the largest reported growth. The declines were in Manitoba, Nova Scotia and British Columbia.
Year-over-year (July 2023 vs July 2022)
Nova Scotia's manufacturing shipments decreased 5.8%. National shipments increased 0.03%.
Manufacturing shipments were down in 7 out of 10 provinces. New Brunswick reported the largest decline while Ontario posted the largest increase.
Year-to-date (seasonally adjusted, January-July 2023 vs January-July 2022)
Nova Scotia's manufacturing shipments decreased 3.0%. National shipments increased 1.4%.
Manufacturing shipments were down in 7 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 4.2%, while non-durable goods shipments decreased 2.4%. In Halifax, durable goods shipments increased 2.5%, while non-durables increased 4.6%. Outside Halifax, durable goods shipments decreased 11.2%, while non-durables decreased 3.7%.
Trends
After a period of rising shipments, including a particular strong May 2022, Nova Scotia manufacturing shipments declined in the second half of 2022. Periodic spikes in Nova Scotia's shipments values are not uncommon. Throughout first half of 2023, both Nova Scotia's and Canada manufacturing shipments have generally shown a relatively flat trend. Relative to 2019, Canada manufacturing shipments are maintaining a higher level than Nova Scotia so far in 2023.
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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