Now that the country – indeed the world is in recession watch after a momentary brush with an inverted yield curve – we are looking at every indicator out there to see if it offers a signal about where things are headed.
The latest big metric to report is manufacturing. And…..it’s not a good one for those worried about the possibility of the R Word becoming a reality.
Overall numbers were down in the country in June. In fact only two provinces had a positive number and one of those only squeaked over the line. Of the eight were in the red Saskatchewan was especially noteworthy with a monthly drop of six percent and a decline of almost 15percent compared to this time last year.
Now these are not the biggest drops but a signal that one of the brighter lights in our economy has hit a plateau as much of our manufacturing output is destined for export markets. And with trade disputes popping up everywhere, there is no doubt we are starting to be affected.