How changes in the economy affect small and medium-sized manufacturers
Manufacturing sector outlook
December 2020
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.
