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January 17, 2022MANUFACTURING SHIPMENTS, NOVEMBER 2021 With November reference month results, year-over-year (Nov2021 vs Nov2020) and year-to-date (Jan-Nov 21 vs. Jan-Nov20) show rebounds in economic activity from the unprecedented declines observed in the first wave of the COVID-19 pandemic.
Month over month (seasonally adjusted, November vs. October 2021)
Nova Scotia's manufacturing shipments increased 4.7% to $838.4 million. National shipments increased 2.6% to $63.07 billion.
Manufacturing shipments were up in 7 of 10 provinces, led by Quebec and Newfoundland and Labrador. Saskatchewan and Manitoba reported the largest declines.
Year over year (seasonally adjusted, November 2021 vs. November 2020)
Nova Scotia's manufacturing shipments increased 13.5%. National shipments increased 16.9%.
Manufacturing shipments were up in 9 of 10 provinces, led by Saskatchewan and Alberta. Newfoundland and Labrador was the only province to report a decline.
Year to date (seasonally adjusted, Jan-Nov 2021 vs. Jan-Nov 2020)
Nova Scotia's manufacturing shipments increased 14.3%. National shipments increased 17.5%.
Manufacturing shipments were up in all provinces, led by Saskatchewan and New Brunswick. Newfoundland and Labrador reported the smallest gain.
Nova Scotia's durable goods shipments increased 23.5%, while non-durable goods shipments increased 9.7%. In Halifax, durable goods shipments increased 12.2%, while non-durables increased 12.3%. Outside Halifax, durable goods shipments increased 36.9%, while non-durables increased 9.2%.
Trends (Jan 2011 to Nov 2021)
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 13.2% higher in November 2021 than in February 2020. National shipments have also been trending upwards since August 2020 and were 11.0% higher in November 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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