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July 14, 2021MANUFACTURING SHIPMENTS, MAY 2021 With May reference month results, year-over-year (May2021 vs May2020) and year-to-date (Jan-May21 vs Jan-May20) show rebounds in economic activity from the unprecedented declines observed in the first wave of the COVID-19 pandemic.
Month over month (seasonally adjusted, May vs. April 2021)
Nova Scotia's manufacturing shipments increased 0.6% to $858.3 million. National shipments decreased 0.6% to $57.86 billion. Manufacturing shipments were down in 6 of 10 provinces, with the largest declines in Prince Edward Island and Manitoba. Newfoundland and Labrador and Alberta reported the largest gains.
Year over year (seasonally adjusted, May 2021 vs. May 2020)
Nova Scotia's manufacturing shipments increased 38.1%. National shipments increased 42.6%. Manufacturing shipments were up in all 10 provinces, led by Newfoundland and Labrador and New Brunswick. Prince Edward Island reported the smallest gain.
Year to date (seasonally adjusted, Jan-May 2021 vs. Jan-May 2020)
Nova Scotia's manufacturing shipments increased 20.3%. National shipments increased 20.7%. Manufacturing shipments were up in all 10 provinces, led by New Brunswick and Saskatchewan. Prince Edward Island reported the smallest gain.
Nova Scotia's durable goods shipments increased 32.6%, while non-durable goods shipments increased 14.2%. In unadjusted data for Halifax, durable goods shipments increased 30.3%, while non-durables increased 13.4%. Outside Halifax, unadjusted durable goods shipments increased 33.9%, while non-durables increased 15.6%.
Trends
In the nine months leading up to the start of the COVID-19 pandemic, manufacturing shipments had been trending down both in Canada and in Nova Scotia. After the pandemic was declared, Nova Scotia's manufacturing shipments declined sharply, falling 16.1% from February 2020 to May 2020. National shipments reached their trough earlier, falling 36.3% from February 2020 to April 2020.
Since then, Nova Scotia's manufacturing shipments have recovered and were 15.9% higher in May 2021 than in February 2020. National shipments have also been trending upwards since August 2020 but with a small decline in May 2021, and was 1.8% higher in May 2021 when compared to February 2020 levels.
Statistics Canada. Table 16-10-0047-01 Manufacturers' sales, inventories, orders and inventory to sales ratios, by industry (dollars unless otherwise noted); Table 16-10-0048-01 Manufacturing sales by industry and province, monthly (dollars unless otherwise noted) (x 1,000); Table 16-10-0011-01 Manufacturing sales, by industry for 12 Selected Census Metropolitan Areas (x 1,000)
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