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Industry has turned the corner, report says

Ontario’s manu­facturing sector, a critical part of the province’s sputtering economy, is starting to bounce back, according to a report.

Ontario’s manu­facturing sector, a critical part of the province’s sputtering economy, is starting to bounce back, according to a report.

The Ontario Manufacturing Council says in its report that the sector has “survived unprecedented challenge” during a punishing recession, gained stability and is now gradually recovering. But the report said although the sector “has turned the corner,” it will take a lot more improvement to reach pre-recession levels.

The council’s report said statistics showed a modest rebound in manufacturing employment started early this year and had reached 16,000 jobs by the end of October. That follows the loss of more than 300,000 jobs in the previous five years.

National data reveals Can­adian manufacturing ship­ments climbed 10 per cent this year and the sector’s gross domestic product has improved six per cent in the first three quarters.

 
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