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August 15, 2023MANUFACTURING SHIPMENTS, JUNE 2023 Monthly (seasonally adjusted, June 2023 vs May 2023)
Nova Scotia's manufacturing shipments increased 1.6% to $927 million. National shipments decreased 1.7% to $71.5 billion.
Manufacturing shipments were up in 4 of 10 provinces, Newfoundland and Labrador had the largest reported growth. The largest declines were in Saskatchewan, Prince Edward Island and Alberta.
Year-over-year (June 2023 vs June 2022)
Nova Scotia's manufacturing shipments increased 0.9%. National shipments decreased 1.4%.
Manufacturing shipments were down in 8 out of 10 provinces. Newfoundland and Labrador reported the largest decline while Ontario posed the largest increase.
Year-to-date (seasonally adjusted, January-June 2023 vs January-June 2022)
Nova Scotia's manufacturing shipments decreased 1.7%. National shipments increased 2.1%.
Manufacturing shipments were up in 5 of 10 provinces. Prince Edward Island and Manitoba reported the largest increases. 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 0.3%. In Halifax, durable goods shipments increased 2.4%, while non-durables increased 5.3%. Outside Halifax, durable goods shipments decreased 11.1%, while non-durables decreased 1.5%.
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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