The COVID-19 pandemic and the associated containment measures have had a devastating impact on Canada’s economy. We are experiencing the biggest economic crisis since the Great Depression. How is the current crisis affecting Canada’s manufacturing industry? What shape will the recovery take?
To help answer these questions, CME conducted an online survey of Canadian manufacturers from May 7 to May 22, 2020. We received 320 responses from companies that represent all regions, company sizes, and sub-sectors.
- About 2/3 of manufacturers report that their rate of output has fallen below normal since the onset of the COVID-19 crisis.
- A similar proportion expect output to remain below normal for at least the next 3-6 months.
- Nearly 1 of 4 manufacturers have scaled up or retooled their operations to build products and components necessary to help in the fight against COVID-19.
- Some 80% of firms rate the federal and provincial government responses to the crisis as excellent or good.