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July 15, 2024MANUFACTURING SHIPMENTS, MAY 2024 Monthly (seasonally adjusted, May 2024 vs April 2024)
Nova Scotia's manufacturing shipments decreased 2.7% to $0.978 billion. National shipments increased 0.4% to $71.4 billion.
Manufacturing shipments were up in 6 of 10 provinces, Saskachewan and Prince Edward Island had the largest reported decreases. Newfoundland and Labrador had the largest reported increase.
Year-over-year (May 2024 vs May 2023)
Nova Scotia's manufacturing shipments increased 4.7%. National shipments decreased 1.8%.
Manufacturing shipments were up in 6 out of 10 provinces. Saskatchewan reported the largest decrease while Newfoundland and Labrador posted the largest increase.
Year-to-date (seasonally adjusted, January-May 2024 vs January-May 2023)
Nova Scotia's manufacturing shipments increased 3.8%. National shipments decreased 2.2%.
Manufacturing shipments were down in 7 of 10 provinces. Saskatchewan reported the steepest decline. Prince Edward Island and Nova Scotia reported the largest increases.
Nova Scotia's durable goods shipments decreased 5.3%, while non-durable goods shipments increased 9.7%. In Halifax, durable goods shipments decreased 21.5%, while non-durables increased 0.5%. Outside Halifax, durable goods shipments increased 16.8%, while non-durables increased 11.7%.
Trends
Nova Scotia’s manufacturing shipments maintained an upward trend through 2023 and first months of 2024. Periodic spikes in Nova Scotia's shipments values are not uncommon. In Nova Scotia manufacturing shipments have been trending up since January 2023. 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)