Sales of Canadian Manufacturing Companies Increased by 1.1% in June
The second quarter of 2018 was good for the Canadian manufacturing sector
The increase registered in the manufacturing sector brought an overall increase for the Canadian economy, which further led to the creation of 54,100 new jobs in July. This triggered the largest drop in unemployment rates in the last 40 years. The unemployment rate fell to 5.8% in July 2018.
Our company registration representatives in Canada can offer information on the regulations imposed by each province when it comes to starting a manufacturing business.
Petroleum and coal - the best branches of the manufacturing industry
As mentioned above, petroleum and coal exports brought the 1.5% and 1.1% increase for manufacturing companies in May, respectively June. The factory sales contributed very much to this growth, as they rose by 15.9% in June. Several large refineries have increased the production levels after the spring maintenance. Also, the utilization rates of these refineries grew from 69.8% in the spring to 89.8% in the first month of summer.
At the other end, with not such good results were the drop in chemical and food product sales. Even if these drops were not high, they did have a minor effect on the economy.
Foreign investors can register companies at a federal or provincial level in Canada by considering the regulations imposed by the authorities. With the help of our local consultants they can set up companies in any industry, so please feel free to contact us anytime.