7/23/2018 | ATB Financial’s Economics + Research Team – In another sign that the 2015-16 recession is behind us, shipments of manufactured goods from Alberta reached the highest total in about three and a half years. Sales rose eight per cent to $6.3 billion in May from April. Compared to May of last year, shipments from Alberta factory floors were up just under 8.5 per cent.
Sales gains were made in 15 of 21 manufacturing industries. Given higher prices and improved demand for energy, sales of petroleum and coal products (+25.2 per cent) led the gains. This follows multiple shutdowns at refineries for maintenance work across the province in April.
Even though petroleum is an important player in our province’s manufacturing sector and for the overall economy, May’s report showed that other industries are doing well too. Excluding the petroleum and coal products industry, manufacturing sales still grew in Alberta (+3.7 per cent).
he province’s manufacturing sector continues to take on 2018 with plenty of momentum. Shipments in virtually all of manufacturing’s subsectors remain above the previous year’s levels and continue to perform strongly. As shown by May’s report, while much of this momentum has to do with the stabilization and growth in Alberta’s energy sector, the province is seeing growth in other industries as well.” Continue reading