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Dashboard of Economic Indicators

Indicators of Manufacturing Performance

Canadian Manufacturing Gross Domestic Product (GDP)

Peel’s manufacturing sector represents an important part of the Canadian manufacturing sector. In the absence of Peel’s specific quarterly data on Gross Domestic Product (GDP), changes in the GDP of the Canadian manufacturing sectors offer some insight on the broad direction of manufacturing GDP in Peel.

  • In the first half of 2018, the monthly changes in Canadian manufacturing GDP fluctuated from a low of -0.3 per cent in January and May to a high of 0.8 per cent in June.
  • In the April – June quarter, the monthly changes observed were as follows:
    • April: -0.1 per cent;
    • May: -0.3 per cent; and
    • June: 0.8 per cent.
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Data Source – STATSCAN
  • The strong growth observed in June 2018 supported total manufacturing GDP to a quarterly growth of 0.3 per cent for the second quarter of 2018.
  • This extended the positive quarterly changes in Canadian manufacturing GDP to nine consecutive quarters.
  • Continued growth in the global economy and especially in the United States (US), Canada’s major trading partner, remained a key backdrop to the growth observed in the highly trade-oriented Canadian manufacturing sector.

Manufacturing employment in Peel’s labour market

The sole Peel-specific manufacturing indicator which is available and tracked is the quarterly changes in manufacturing employment in Peel’s labour market. This provides some indication of changes in manufacturing activities in Peel and its immediate environment, the Greater Toronto Area (GTA).

  • In the first quarter of 2018, changes in the quarterly average manufacturing employment in Peel’s labour market were negative.
  • When compared with the first quarter of 2017, quarterly average manufacturing employment fell by 26.7 per cent or 35,500 positions to 97.500 positions.
  • This was the first time in three years that manufacturing employment in Peel’s labour market was below 100,000 positions.
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Data source – STATSCAN
  • In the second quarter of 2018, quarterly average manufacturing employment in Peel’s labour market also fell.
  • At 98,600 positions, it was 18.2 per cent (or 21,900 positions) lower than that recorded in the second quarter of 2017.
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Data source – STATSCAN
  • As the largest sectoral employer in the goods-producing sector in Peel’s labour market, lower quarterly average manufacturing employment in the first two quarters of 2018 influenced declines in the quarterly average employment in the goods-producing sector during the same two quarters as follows:
    • January – March 2018: down 13.9 per cent or by 24,100 positions; and
    • April – June 2018: down 3.9 per cent or by 6,600 positions.
  • In the second quarter of 2018, quarterly average employment in the goods-producing sector stood at 160,000 positions.