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October 16, 2024MANUFACTURING SHIPMENTS, AUGUST 2024 Monthly (seasonally adjusted, August 2024 vs July 2024)
Nova Scotia's manufacturing shipments decreased 1.8% to $0.948 billion. National shipments decreased 1.3% to $69.4 billion.
Manufacturing shipments were down in eight provinces. Newfoundland and Labrador reported the largest monthly decline in manufacturing shipments while Prince Edward Island reported the largest increase.
Year-over-year (August 2024 vs August 2023)
Nova Scotia's manufacturing shipments declined by 2.8% compared to August 2023. National shipments decreased 4.4%. Three provinces, led by Prince Edward Island, reported increases. Seven provinces, led by Ontario, reported year-over-year declines.
Year-to-date (seasonally adjusted, January-August 2024 vs January-August 2023)
Nova Scotia's manufacturing shipments increased 1.5% year-to-date. National shipments decreased 2.5%. Manufacturing shipments were up in five 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 6.1%, while non-durable goods shipments increased 6.4%. In Halifax, durable goods shipments decreased 22.8%, while non-durables declined 0.5%. Outside Halifax, durable goods shipments increased 16.5%, while non-durables increased 7.8%.
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)