Shipments up 6.9% in Oct.
Manufacturing shipments were up 6.9 per cent in October over the same period last year, the third-highest percentage increase among the provinces, according to numbers released Friday by Statistics Canada.
Manufacturing sales hit $1.197 billion, up from $1.119 billion in October 2011, the federal agency said.
Economy Minister Bill Boyd said Saskatchewan-made products are in high demand and he expects that trend to continue.
“This is a sector that is not only creating and shipping quality products around the globe, but is also generating jobs, investment and opportunities right here in the province,” Boyd said in a press release.
However, on a monthto-month basis, Saskatchewan’s manufacturing shipments slipped slightly, down 0.2 per cent from $1.2 billion in September. Nationally, manufacturing shipments dropped 1.4 per cent on a month-to-month basis.
Canadian manufacturing sales fell by $676 million in October from September, erasing previous gains and leaving manufacturing sales flat over the past year.
“These figures validate federal NDP leader Tom Mulcair’s concern that an overvalued exchange rate is hobbling Canadian manufacturing sales,’’ NDP leadership candidate Erin Weir said in a commentary.
“This concern is not limited to Eastern Canada. Saskatchewan manufacturing sales also declined in October to their lowest level in five months.”
Weir noted the province has lost 5,000 manufacturing jobs during the past five years of Saskatchewan Party government. Statistics Canada’s latest labour force survey indicated manufacturing employment in Saskatchewan fell to 27,000 in November 2012 from 32,000 in November 2007.
But Doug Elliott of Sask Trends Monitor said manufacturing, if anything, appears to be “bouncing back”. “Food production is up 68 per cent from a year ago. Machinery is doing well. I think the sector is having a bit of a recovery.’’
He cited an increase in employment in manufacturing in November and the double-digit increase in sales over the last 10 to 12 months. “We’re seeing a 13.9 per cent year over year increase — 13.1 per cent for the year to date. This is not bad news.”
Nationally, the manufacturing sales decline in October to $48.8 billion reflected drops in aerospace products and parts, motor vehicle assembly and the primary metal industries, partly offset by higher sales in petroleum and coal products as well as the wood product industries.
Overall, sales declined in 12 of 21 industries, representing approximately 71 per cent of the manufacturing sector.
Durable goods sales decreased 2.9 per cent to $24.7 billion, while sales of nondurable goods rose 0.3 per cent to $24.2 billion.
Constant-dollar manufacturing sales fell 2.4 per cent in October, indicating a decline in the volume of manufactured goods sold.
Sales were down in six provinces, though the decrease was concentrated in Ontario, where sales dropped 3.4 per cent to $22 billion.