Paul Martin's Business Update - January 22nd

Paul Martin's Business Update - January 22nd

This province’s manufacturing sector is hot – red hot. That comes from the latest monthly update on revenues flowing through this sector compiled by StatsCan. The report, for November, is four per cent higher than October and 20 per cent ahead of October of last year.

That compares pretty well across the country. Tops, in fact, and the improvement is 10 times higher than the national gains.

Overall revenues passed the $1.4 billion mark for the month which is a gradual gain from the $1.2 billion a month we saw in the spring and $1.3 billion over the summer.

Part of this bump may be attributable to the declining Canadian dollar as some companies sell their goods priced in US dollars. These tend to be products that have a world price which generally is expressed in American currency, including things like oil or minerals such as potash. Nonetheless, the gains are significant in a range of fields including machinery manufacturing and underscore the changing nature of the provincial economy as diversification results in less reliance on traditional commodity production.

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