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December 13, 2024MANUFACTURING SHIPMENTS, OCTOBER 2024 Monthly (seasonally adjusted, October 2024 vs September 2024)
Nova Scotia's manufacturing shipments decreased 1.7% to $984.0 million. National shipments increased 2.1% to $70.8 billion.
Manufacturing shipments were up in seven provinces. Prince Edward Island reported the largest monthly increase in manufacturing shipments while Newfoundland and Labrador reported the largest decrease.
Year-over-year (October2024 vs October 2023)
Nova Scotia's manufacturing shipments increased by 3.1% compared to the same month last year 2023. National shipments decreased 0.2%. Seven provinces, led by New Brunswick, reported increases. Three provinces, led by Saskatchewan, reported year-over-year declines.
Year-to-date (seasonally adjusted, January-October 2024 vs January-October 2023)
Nova Scotia's manufacturing shipments increased 4.8% year-to-date. National shipments decreased 2.5%. Manufacturing shipments were up in six provinces. Saskatchewan and Ontario reported the steepest declines while Newfoundland and Labrador reported the largest gain.
Non-durable goods shipments from areas outside Halifax account for the largest portion of Nova Scotia's manufacturing output.
Nova Scotia's durable goods shipments increased 5.3%, while non-durable goods shipments increased 11.1%. In Halifax, durable goods shipments decreased 22.1%, while non-durables declined 0.7%. Outside Halifax, durable goods shipments increased 16.9%, while non-durables increased 13.7%.
Trends
Nova Scotia’s manufacturing shipments have fluctuated around the same value since 2022. Periodic spikes and drops in Nova Scotia's shipments values are not uncommon. Nationally manufacturing shipments have been relatively trending down over the same period.
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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