The price of goods manufacturing in Canada has declined for three straight months, according to the Conference Board of Canada. The main reason is because both global shipping costs and delivery times declined in that time, meaning that long-lasting supply chain challenges through COVID-19 are finally starting to dissipate.
The Board also warned of an economic growth slowdown. Rising interest rates will dampen consumer spending. Also, manufacturing inventories are at record highs. With firms being able to use inventories to meet demand, production levels will fall, further dragging down economic growth.
Canada’s manufacturing numbers show supply chain issues resolving, Inside Logistics, Sept 15, 2022. Accessed Sept 19, 2022.