FEBRUARY MANUFACTURING SALES NEARLY FOUR TIMES THE NATIONAL AVERAGE
Saskatchewan’s manufacturers had a successful February, according to the latest report from Statistics Canada. The province saw a 12.8 per cent increase in sales over February 2013, totalling $1.37 billion. This was the second highest year-over-year growth rate among the provinces (seasonally adjusted) and nearly quadruples the national average of 3.3 per cent.
“It says a lot about the state of the Saskatchewan economy when so many of our primary sectors are experiencing gains in the early part of 2014,” Economy Minister Bill Boyd said. “Manufacturing is one of the key revenue generators in this province and when this sector expands, we all benefit.”
On a seasonally unadjusted basis, food manufacturing grew 19.8 per cent to $304 million over February 2013. Machinery manufacturing also experienced a boost, growing by 8.6 per cent to $141 million during the same period.
On a month-over-month basis, Saskatchewan recorded the fourth highest growth rate in the country with sales jumping 3.5 per cent (seasonally adjusted) compared to January 2014. This eclipsed the national average of 1.4 per cent.
“Saskatchewan-made products do incredibly well in the global marketplace and that’s because buyers understand the level of quality they are getting when they purchase goods from any of this province’s thriving manufacturers,” Boyd said. “The reputation our manufacturers have built for themselves comes from decades of Saskatchewan innovation and hard work.”
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