Manufacturing sector outlook
How changes in the economy affect small and medium-sized manufacturers
Canada’s manufacturing sector is diverse and touches every aspect of the economy. From food and pharmaceuticals to chemicals and fabricated metal, discover how various industries and sub-sectors are managing the recovery.
Understand trends contributing to an uneven recovery within the sector:
- Manufacturing output is expected to decline almost 10% in 2020, close to twice the rate for the overall economy.
- Exports of manufactured goods have been hit by supply chain disruptions.
- Labour productivity has been hurt by physical distancing and enhanced cleaning protocols.
- Pharmaceuticals and food manufacturing will benefit from a spike in consumer demand.
- Aerospace and machinery manufacturing are suffering from reduced capital investments in other sectors.
Plus, examine opportunities and trends that can help manufacturers stay ahead in the downturn.