Canadian manufacturers are feeling the effects of the global economic slowdown.

Operating profits for the country's manufacturers -- excluding the oil and gas sectors -- fell nearly $800 million in the third quarter, according to data from Statistics Canada.

Profits at vehicle and parts manufactures dropped nearly 19 percent from the previous quarter to $768 million, while profits for chemical, plastics and rubber manufacturers sunk nearly 12 percent to $1.8 billion.

Metal manufacturers suffered the sharpest drop in profits, sliding more than 19 percent to $624 million.

Worse still is that that slowdown in the manufacturing sector extends back to last year. Economists at National Bank say profits for the country's manufacturers have fallen 30 percent since the fourth quarter of 2011.

Revenues have dropped for two consecutive quarters, the first time that has happened since the recession, the economists say.

Margins have also been under pressure, the economists highlight, hitting their lowest level since the first quarter of 2010. In contrast, manufacturers in the U.S. recently posted record level margins.

"This does not bode well for Canadian manufacturing employment, which was already on a declining trend since its peak last May," says National Bank's Marc Pinsonneault.