Durable goods, transportation equipment lead manufacturing surge
- January 17, 2022
Canadian manufacturing sales rose for a second consecutive month in November, rising 2.6% to $63.1 billion on higher sales in 18 of 21 industries, according to the Monthly Survey of Manufacturing from Statistics Canada.
Sales in constant dollars increased 1.9% in November, indicating a higher volume of goods sold.
The surge was led by strong performances by the durable goods and transportation equipment sectors. The fabricated metal products sector also grew, albeit at a slower rate.
The durable goods sector grew sales by 3.5 per cent in November over the previous month and posted an impressive 10 per cent gain compared to November 2020.
Sales for transportation equipment manufacturing grew 4.9 per cent from the previous month. Motor vehicle body and trailer manufacturing sales were particularly robust, growing 14.6 per cent, while aerospace parts grew 6.8 per cent from the previous month. Motor vehicle parts manufacturing sales grew 5.1 per cent. It’s not all good news for the sector though. On a year-over-year basis sales of transportation equipment manufacturing shrunk by 8.5 per cent, with motor vehicles and motor vehicle parts contributing significantly to the year-over-year sales decline. Aerospace parts sales grew 17.2 per cent year-over-year.
Fabricated metal product sales grew 0.4 per cent in November compared to the previous month and showed a sizeable 17.1 per cent year-over-year.