Canada Creates
Manufacturing Jobs
As British manufacturing slumps, the factories in
Canada are busier than ever, according to Statistics
Canada, as almost 115,000 manufacturing jobs over the past six
months, the most over any similar period on record. This puts Canada on top of
the top 34 richest nations in the world. So how does a country that has high
wages, low productivity, and a strong currency, create more jobs than Germany,
USA, Japan, and every other developed nation?
Many economists believe that Canadian manufacturers are concentrating on the local market rather than exports due to the strong value of the Canadian Dollar. Another sign of the strength of the manufacturing sector is the new PMI figure which has now reached 54.7 for May, up from 53.3 in April. The PMI is now at its highest level since September 2011. As far as orders, the numbers were also up in May, to the highest level in five months.
Many economists believe that Canadian manufacturers are concentrating on the local market rather than exports due to the strong value of the Canadian Dollar. Another sign of the strength of the manufacturing sector is the new PMI figure which has now reached 54.7 for May, up from 53.3 in April. The PMI is now at its highest level since September 2011. As far as orders, the numbers were also up in May, to the highest level in five months.
British Manufacturing
Declines
The manufacturing
sector in the UK is suffering according to the latest figures from the
government's Office for National Statistics. Economists
were expecting an increase in April's figures and an overall half percent
increase since the beginning of the year. However, the actual figures were
disappointing with April's figures falling 0.7 percent, which means a 0.3
percent decline for the year.
Economists are predicting a slower second quarter for British manufacturing due to extra public holidays due to Jubilee celebrations, the summer Olympics and the weakness in the economies of other European nations.
Not all manufacturing sectors saw a decline in April; the transport equipment and electronics sector posted the highest increases in manufacturing output. In total, seven manufacturing sectors fell with six managing an increase.
Economists are predicting a slower second quarter for British manufacturing due to extra public holidays due to Jubilee celebrations, the summer Olympics and the weakness in the economies of other European nations.
Not all manufacturing sectors saw a decline in April; the transport equipment and electronics sector posted the highest increases in manufacturing output. In total, seven manufacturing sectors fell with six managing an increase.
No comments:
Post a Comment