Sales declined in 17 of 21 subsectors.
Canadian manufacturing sales fell 2.1% in June, continuing a concerning trend of a slowdown in Canada’s manufacturing sector.
According to Statistics Canada, sales fell in 17 of 21 manufacturing subsectors:
Manufacturing sales decreased 2.1% to $69.6 billion in June, on declines in 17 of 21 subsectors, led by the transportation equipment (-2.9%), chemical product (-5.8%) and primary metal (-2.7%) subsectors.
Three consecutive quarterly declines
This is not a one-off decline either.
Manufacturing sales are down 0.3% in Q2 of 2024, and have now declined for three consecutive quarters.
Year-over-year manufacturing sales are down 1.8%.
Sales fell in eight provinces, including Alberta, Ontario, and Quebec.
Concerning trend
This is a concerning trend, especially when viewed in light of our large population increases. We are seeing more and more indicators that economic activity in Canada is contracting on a per person basis, with unsustainable immigration hikes masking recessionary conditions.
Spencer Fernando
