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May 14, 2021MANUFACTURING SHIPMENTS, MARCH 2021 Month over month (seasonally adjusted, March vs. February 2021)
With March reference month results, year-over-year (Mar 2021 vs Mar 2020) and year-to-date (Jan-Mar21 vs Jan-Mar20) are beginning to show the rebounds in economic activity from the unprecedented declines observed at the start of the COVID-19 pandemic.
Nova Scotia's manufacturing shipments increased 24.3 to $952.32 million. National shipments increased 3.5% to $57.84 billion. All provinces reported month-over-month gains in manufacturing shipments with Nova Scotia posting the largest increase followed by Saskatchewan (+10.6%).
Year over year (seasonally adjusted, March 2021 vs. March 2020)
Nova Scotia’s manufacturing shipments increased 28.2% while national shipments were up 14.8%. All provinces except Newfoundland and Labrador (-2.0%) reported year-over-year increases. The largest gain was recorded in New Brunswick (+50.9%) followed by Saskatchewan (+29.6%).
Year to date (seasonally adjusted, Jan-Mar 2021 vs. Jan-Mar 2020)
In the first quarter of 2020, Nova Scotia’s manufacturing shipments increased 13.4%. Nationally, manufacturing shipments increased 5.2%. Manufacturing shipments were up in 8 of 10 provinces, led by British Columbia (+22.8%) and New Brunswick (+21.0%). Newfoundland and Labrador and Prince Edward Island were the only two provinces reporting declines.
Nova Scotia’s durable goods shipments 36.7%, while non-durable goods shipments were up 2.1%.
In unadjusted data for Halifax, durable goods shipments increased 52.1% while non-durables increased 10.3%. Outside Halifax, durable goods shipments were up 134.4% and non-durable goods shipments were up 62.6%.
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 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 32.2% higher in March 2021 than in February 2020. National shipments have also been trending upwards since August 2020, and was 3.7% higher in March 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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