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September 14, 2021MANUFACTURING SHIPMENTS, JULY 2021 With July reference month results, year-over-year (Jul 2021 vs Jul 2020) and year-to-date (Jan-Jul 21 vs Jan-Jun20) show rebounds in economic activity from the unprecedented declines observed in the first wave of the COVID-19 pandemic.
Month over month (seasonally adjusted, July vs. June 2021)
Nova Scotia's manufacturing shipments decreased 1.4% to $832.4 million. National shipments decreased 1.5% to $59.55 billion.
Manufacturing shipments were down in 6 of 10 provinces, with the largest declines in Newfoundland and Labrador and British Columbia. Manitoba and Saskatchewan reported the largest gains.
Year over year (seasonally adjusted, July 2021 vs. July 2020)
Nova Scotia's manufacturing shipments increased 16.3%. National shipments increased 12.2%.
Manufacturing shipments were up in 9 of 10 provinces, led by Saskatchewan and Alberta. Ontario was the only province to report a decline.
Year to date (seasonally adjusted, Jan-Jul 2021 vs. Jan-Jul 2020)
Nova Scotia's manufacturing shipments increased 18.5%. National shipments increased 19.9%.
Manufacturing shipments were up in all 10 provinces, led by New Brunswick and Saskatchewan. Newfoundland and Labrador reported the smallest gain.
Nova Scotia's durable goods shipments increased 29.5%, while non-durable goods shipments increased 13.2%. In Halifax, durable goods shipments increased 17.3%, while non-durables increased 11.9%. Outside Halifax, durable goods shipments increased 44.4%, while non-durables increased 13.5%.
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 12.4% higher in July 2021 than in February 2020. National shipments have also been trending upwards since August 2020 and were 4.8% higher in July 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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