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February 16, 2022MANUFACTURING SHIPMENTS, DECEMBER AND ANNUAL 2021 With December reference month results, year-over-year (Dec 2021 vs Dec 2020) and annual (2021 vs. 2020) show rebounds in economic activity from the unprecedented declines observed in the first wave of the COVID-19 pandemic.
Month over month (seasonally adjusted, December vs. November 2021)
Nova Scotia's manufacturing shipments were little changed at $847.8 million. National shipments increased 0.7% to $64.00 billion.
Manufacturing shipments were up in 7 of 10 provinces, led by Manitoba and Prince Edward Island. Newfoundland and Labrador and Quebec reported the largest declines.
Year over year (seasonally adjusted, December 2021 vs. December 2020)
Nova Scotia's manufacturing shipments increased 10.7%. National shipments increased 16.6%.
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.
Annual (2021 vs. 2020)
Nova Scotia's manufacturing shipments increased 14.1%. National shipments increased 17.5%. National shipments increased on higher domestic and international demand as economies began to re-open.
Manufacturing shipments were up in all 10 provinces, led by Saskatchewan and New Brunswick. Newfoundland and Labrador reported the smallest gain.
Nova Scotia's durable goods shipments increased 23.3%, while non-durable goods shipments increased 9.6%. In Halifax, durable goods shipments increased 14.5%, while non-durables increased 9.8%. Outside Halifax, durable goods shipments increased 33.6%, while non-durables increased 9.6%.
Trends (Jan 2011 to Dec 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 had recovered until March 2021 and declined again from April 2021 to October 2021 (except August and September 2021) on renewed COVID-19 restrictions. Manufacturing shipments are increasing in recent months. National shipments have been trending upwards since August 2020.
The value of new orders increased 1.4% to $65.6 billion in December. New orders in the transportation equipment industry (+7.9%) contributed to the increase in December.
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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