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April 14, 2023MANUFACTURING SHIPMENTS, FEBRUARY 2023 Month over month (seasonally adjusted, February 2023 vs January 2023)
Nova Scotia's manufacturing shipments decreased 1.2% to $866 million. National shipments decreased 3.6% to $71.5 billion.
Manufacturing shipments were down in 9 of 10 provinces led by Saskatchewan and Alberta. Prince Edward Island reported the only increase (0.02%).
Year over year (February 2023 vs February 2022)
Nova Scotia's manufacturing shipments increased 0.9%. National shipments increased 3.8%.
Manufacturing shipments were up in 8 of 10 provinces, led by Prince Edward Island. New Brunswick and British Columbia reported the only declines.
Year to date (seasonally adjusted, January-February 2023 vs January-February 2022)
Nova Scotia's manufacturing shipments increased 2.7%. National shipments increased 8.6%.
Manufacturing shipments were up in all provinces except British Columbia. Prince Edward Island reported the fastest growth.
Nova Scotia's durable goods shipments increased 0.8%, while non-durable goods shipments increased 3.8%. In Halifax, durable goods shipments increased 6.0%, while non-durables increased 16.5%. Outside Halifax, durable goods shipments decreased 4.1%, while non-durables increased 1.1%.
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, 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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