It’s a hair off $1.5 billion. That’s the aggregate revenue for Saskatchewan’s manufacturing sector in August.
This particular part of the economy has been among the strongest segments we have in recent months. It is tied to the export sector, which has been lifted by the soft Canadian dollar and has been one of our bright spots.
We now have August’s figures and, at a time when revenues for this sector are declining nationally, Saskatchewan produced one of the strongest improvements in the country. Revenues were up three per cent for the month, which took the annual growth total past 14 per cent, second-best in the nation behind New Brunswick.
These figures are especially interesting because of the tariffs on things such as steel and aluminum. That makes us less competitive, yet we are still showing some gains even though inventories of steel products are falling. So producers are either cutting back or they have cleared out backlog supplies.
And unfilled orders are rising, a signal that buyers are still stepping up to the plate and production is not able to keep up.