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September 16, 2024MANUFACTURING SHIPMENTS, JULY 2024 Monthly (seasonally adjusted, July 2024 vs June 2024)
Nova Scotia's manufacturing shipments increased 4.2% to $0.971 billion. National shipments increased 1.4% to $71.0 billion.
Manufacturing shipments were up in 7 of 10 provinces. Saskatchewan reported the largest monthly growth in manufacturing shipments while Newfoundland and Labrador reported the largest decrease.
Year-over-year (July 2024 vs July 2023)
Nova Scotia's manufacturing shipments rose by 7.2% compared to July 2023. National shipments decreased 1.1% based entirely on the decline in shipments from Ontario - the only province to report a decrease. Shipments were up in all other provinces, led by Newfoundland and Labrador.
Year-to-date (seasonally adjusted, January-July 2024 vs January-July 2023)
Nova Scotia's manufacturing shipments increased 2.2% year-to-date. National shipments decreased 2.0%. Manufacturing shipments were up in 5 of 10 provinces. Ontario reported the steepest decline 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 decreased 5.9%, while non-durable goods shipments increased 7.4%. In Halifax, durable goods shipments decreased 22.3%, while non-durables edged up 0.3%. Outside Halifax, durable goods shipments increased 16.5%, while non-durables increased 9.0%.
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)