Rebound in the manufacturing sector expected to be sluggish, new report says
September 2, 2011 by The Canadian Press
A new report predicts several major sectors in Canada’s manufacturing industry won’t return to pre-recession production levels until the middle of the decade.
Canadian makers of furniture, paper products, printing services and wood products are expected to remain below 2007-08 output until 2015 or later.
Auto parts manufacturing and aerospace were the only two sectors studied that are expected to top pre-recession levels by 2015.
The Conference Board of Canada and the Business Development Bank of Canada say turbulence in the global economy adds to the uncertainty of their outlook.
The report says Canadian aerospace production is expected to reach its low point in 2011, before output begins to rise next year and top its 2008 peak in 2015.
Meanwhile, auto sales are expected to surge over the next couple of years as market conditions in the United States improve gradually.