Economy
Sales Volume Up 1% for Canadian Manufacturing
Written by Sandy Williams
November 17, 2013
Canadian manufacturing sales rose 0.6 percent to $49.9 billion in September according to the November release by Statistics Canada. Sales were at their highest level since June 2012 mostly due to gains in the automobile and food industries. Volume sales gained 1.0 percent for the month, a positive indicator for economic health.
Of the 21 industries surveyed, 11 reported higher sales in September. Sales of both durable and non-durable goods rose 0.6 percent.
Manufacturers saw a decline of 0.9 percent in inventories quarter-over-quarter but were up 1.5 percent year-over-year. Unfilled orders declined 2.2 percent and new orders fell 2.6 percent as a result of a decrease in demand in the aerospace products and parts industry. The inventory to sales ratio (months on hand at current sales levels) dropped to 1.37 from 1.39 in August.
Sandy Williams
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