Canadian manufacturing sales increased 1.9 per cent in March, the largest advanced since September 2011. The gain was largely driven by higher sales of petroleum and coal products, though higher sales were reported in 13 of the 21 manufacturing sectors surveyed.
BC manufacturing sales rose 0.4 per cent on a month-over-month basis in March but were 0.4 per cent lower than in March 2011. BC manufacturing sales were lead higher by a rebound in BC’s non-durables goods sector where sales rose 2.6 per cent due to strength in the petroleum and coal sector as well as higher sales in the paper and food manufacturing industries.
South of the border, US housing starts (a key bellwether for BC’s forest product industry) rose 2.6 per cent to 717,000 units in April, and 29 per cent over April 2011.
Copyright British Columbia Real Estate Association. Reprinted with permission.