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March 15, 2022MANUFACTURING SHIPMENTS, JANUARY 2022
Month over month (seasonally adjusted, January 2022 vs. December 2021)
Nova Scotia's manufacturing shipments decreased 0.9% to $829.7 million. National shipments increased 0.6% to $64.77 billion.
Manufacturing shipments were up in 5 of 10 provinces, led by British Columbia and Quebec. Newfoundland and Labrador and Saskatchewan reported the largest declines.
Year over year (seasonally adjusted, January 2022 vs. January 2021)
Nova Scotia's manufacturing shipments increased 4.6%. National shipments increased 13.4%.
Manufacturing shipments were up in 9 of 10 provinces, led by Prince Edward Island and Alberta. Newfoundland and Labrador was the only province to report a decline.
Nova Scotia's durable goods shipments increased 6.4%, while non-durable goods shipments increased 3.5%. In Halifax, durable goods shipments decreased 5.9%, while non-durables increased 16.1%. Outside Halifax, durable goods shipments increased 20.8%, while non-durables increased 0.8%.
Trends (Jan 2015 to Jan 2022)
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 12.1% higher in January 2022 than in February 2020. National shipments have also been trending upwards since August 2020 and were 14.0% higher in January 2022 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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