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April 15, 2021MANUFACTURING SHIPMENTS, FEBRUARY 2021 Month over month (seasonally adjusted, February vs. January 2021)
Nova Scotia's manufacturing shipments decreased 3.3% to $752.4 million. National shipments decreased 1.6% to $55.36 billion. Manufacturing shipments were up in 6 of 10 provinces, led by Newfoundland and Labrador and Saskatchewan. Ontario and New Brunswick reported the largest declines.
Year over year (seasonally adjusted, February 2021 vs. February 2020)
Nova Scotia's manufacturing shipments increased 4.4%. National shipments decreased 0.8%. Manufacturing shipments were up in 6 of 10 provinces, led by British Columbia and New Brunswick. Newfoundland and Labrador and PE reported the largest declines.
Year to date (seasonally adjusted, Jan-Feb 2021 vs. Jan-Feb 2020)
Nova Scotia's manufacturing shipments increased 4.0%. National shipments increased 0.2%. Manufacturing shipments were up in 6 of 10 provinces, led by British Columbia and Saskatchewan. Newfoundland and Labrador and Prince Edward Island reported the largest declines.
Nova Scotia's durable goods shipments increased 18.8%, while non-durable goods shipments decreased 3.0%.
In unadjusted data for Halifax, durable goods shipments increased 24.2%, while non-durables increased 4.6%. Outside Halifax, unadjusted durable goods shipments increased 176.1%, while non-durables increased 88.4%.
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 14.2% from February to May. National shipments reached their trough earlier, falling 34.9% from February to April.
Since then, Nova Scotia's manufacturing shipments have recovered and were 4.4% higher in February 2021 than in February 2020. National shipments rebounded quickly through July, but growth has slowed but still exceeded February 2020 growth by 0.9% in January 2021. Canadian manufacturing shipments growth faltered in February 2021 due to a shortage of semiconductors slowing production in the transportation and plastics industries. Growth has fallen -0.8% below 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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