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December 14, 2023MANUFACTURING SHIPMENTS, OCTOBER 2023 Monthly (seasonally adjusted, October 2023 vs September 2023)
Nova Scotia's manufacturing shipments increased 4.4% to $915 million. National shipments decreased 2.8% to $71.0 billion.
Manufacturing shipments were up in 3 of 10 provinces, New Brunswick had the largest reported decline. Growth occurred in Nova Scotia, Prince Edward Island, and British Columbia.
Year-over-year (October 2023 vs October 2022)
Nova Scotia's manufacturing shipments increased 3.5%. National shipments decreased 1.5%.
Manufacturing shipments were down in 7 out of 10 provinces. Saskatchewan reported the largest declines while Prince Edward Island posted the largest increase.
Year-to-date (seasonally adjusted, January-October 2023 vs January-October 2022)
Nova Scotia's manufacturing shipments decreased 1.6%. National shipments increased 1.4%.
Manufacturing shipments were down in 6 of 10 provinces. Prince Edward Island reported the largest increase. New Brunswick reported the steepest decline.
Nova Scotia's durable goods shipments decreased 0.7%, while non-durable goods shipments decreased 2.1%. In Halifax, durable goods shipments increased 2.4%, while non-durables increased 3.4%. Outside Halifax, durable goods shipments decreased 3.9%, while non-durables decreased 3.2%.
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 ten months of 2023, Canada manufacturing shipments have generally shown a relatively flat trend and Nova Scotia shows a slight decline. 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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