BCREA ECONOMICS NOW
Manufacturing Shipments/US Retail Sales - November 15, 2011
Canadian manufacturing sales rose 2.6 per cent in September, the third consecutive monthly increase. Higher sales were reported in 10 of 21 manufacturing sectors representing 60.5 per cent of total manufacturing sales. A higher than expected September trade surplus paired with strong third quarter manufacturing shipments will give third quarter Canadian GDP growth a boost, possibly to as high as 3 per cent. Manufacturing sales in British Columbia increased marginally by 0.1 per cent in September.
Positive news out of the US showed that US consumers were off to a strong start in the fourth quarter as October retail sales rose 0.5 per cent, beating consensus forecasts of 0.3 per cent. A strong sign that, while growing slowly, the US is not (yet) slipping into a recession.
For more information, please contact:
| Cameron Muir | Brendon Ogmundson |
| Chief Economist | Economist |
| Direct: 604.742.2780 | Direct: 604.742.2796 |
| Mobile: 778.229.1884 | Mobile: 604.505.6793 |
| Email: cmuir@bcrea.bc.ca | Email: bogmundson@bcrea.bc.ca |
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