r/canada • u/StatCanada OFFICIEL/OFFICIAL CANADA • 19h ago

National News Following a 0.3% decrease in July, total manufacturing sales increased 1.5% to $79.9 billion in August 2026 / Après avoir reculé de 0,3 % en juillet, les ventes totales du secteur de la fabrication ont progressé de 1,5 % pour atteindre 79,9 milliards de dollars en août 2026

https://www150.statcan.gc.ca/n1/daily-quotidien/261015/dq261015a-eng.htm?utm_source=rddt-canada&utm_medium=smo&utm_campaign=statcan-statcan-economy-economie
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u/byourpowerscombined Alberta 18h ago

Quick! Someone tell me how this is bad news!

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u/Gunslinger7752 16h ago

Inflation is 3% so if you take that into account, a 1.5% YoY increase in revenues is essentially a drop. It’s just like if you made 1.5% interest on your money in a “high interest” savings account, at 3% inflation you are still losing at the end of the day.

It’s also worth noting the newest bans and tariffs were not yet in effect throughout August. I would say that the September economic numbers are not going to be great and October will be worse.

Having said that, I don’t think it will continue but manufacturing has been far more resilient than people expected.

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u/combattoast 15h ago

It's a 1.5% monthly increase. The YoY increase is 14.2%.

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u/Gunslinger7752 14h ago

Fair, you are correct. I still don’t think it’s a metric that signals that our economy is in great shape. Most of our manufacturing goes to the US and our dollar continues to fall. It’s also a gross revenue figure which can be misleading. We will see what the next couple months bring.