As we look for signs that the economy is slowing down or, at the very least, inflationary pressures are easing, the latest report on manufacturing activity in the country offers some guidance. It would suggest things are indeed slowing.
The latest report shows Canada’s manufacturers saw sales decline by more than two per cent in March which was about three points lower than at this time a year ago. The declines were very widespread as well – eight of the ten provinces showed up in negative numbers.
Here in Saskatchewan, where manufacturing has been a strong player for several years, we too saw a bit of a pull-back. At 1.5 per cent of the month, the decline was one of the lowest in the nation but our retrenchment is becoming more consistent as sales for these organizations have now fallen by nearly 10 per cent in the last twelve months, the second largest pull-back in the nation.
Pretty much all of the Saskatchewan decline was centred in Saskatoon which saw a reduction of 30 per cent year-over-year while Regina manufacturers actually posted a bit of gain the month and year.
