Toronto, Ontario — A new report from Statistics Canada shows that the manufacturing sector has already started to see sales starting to dip, with figures dropping by 1.6 percent in February.
Canadian manufacturers saw a glimpse at recovery in January, when the industry saw an overall 3.4 percent bump in sales volume; the highest peak reported in seven months.
However, a number of material shortages have affected business significantly in North America, resulting in this dip to an overall manufacturing sales volume of $55.4 billion.
Motor vehicle sales fell 14.5% to $3.3 billion in February, their lowest level since May 2020, because of the global shortage of microchips and therefore forcing some companies to temporarily halt production at facilities, according to the report from StatsCan.
The full report can be accessed here.