Troy Media – ATB Financial
While manufacturing is often thought to be the realm of central Canada, an increasingly large value of goods is being assembled and processed in Alberta. And in September, manufacturers in this province saw the value of their shipments soar.
Manufacturing shipments surged by 5.9 per cent in September to $6.28 billion. The monthly increase was the largest since May 2008 and brings the value of shipments to their fourth highest monthly level ever. Only during the peak of the economic boom in 2008, when oil prices were up around $130, did manufacturers ship a higher value of product.
The story in September was all energy-sector related, as petroleum and coal products (consisting of refined products like diesel and gasoline) and machinery (mostly parts used in energy extraction and transportation) led the climb. Shipments of non-energy products like food, paper and wood all dipped slightly in September.
The climb in Alberta was echoed by similarly strong showing nationally, with Canadian manufacturing shipments rising by a larger than expected 2.6 per cent. The gain bolsters evidence that Canadian GDP is gearing up for a healthy showing in Q3.
Much of Alberta’s manufacturing industry is really just an extension of the energy sector. And while manufacturing has been flat in central Canada since the 2000s, growing oil sands production means manufacturing activity in Alberta has trended higher. Over the long run as long as energy production in this province continues to grow, the manufacturing sector will continue to grow alongside it.
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Big jump in Canadian manufacturing in July
Alberta manufacturing hitting its stride
Alberta economy slows down
Alberta forestry still going through tough times
Manufacturing index: Alberta and BC continue to lead
Alberta economic snapshot for July 16, 2011
Calgary-based Opsco Manufacturing building technology to reduce Alberta’s
Agriculture boosting Alberta exports
Tags: Alberta, Business
Category: Business
