Canadian manufacturing sales fall 1.0 percent in May

Friday, 15 July 2016 23:43:11 (GMT+3)   |   San Diego
       

According to Statistics Canada, manufacturing sales declined 1.0 percent to $49.9 billion in May, the third decrease in five months. The decline in May reflected lower sales of motor vehicles and petroleum and coal products.

Motor vehicle sales fell 4.2 percent to $5.6 billion in May, while sales of motor vehicle parts declined 2.3 percent. The declines in both industries were partly as a result of supply interruptions associated with the earthquake in Japan in April.

The fabricated metal product (-2.7 percent), computer and electronic product (-6.4 percent), and primary metal (-1.6 percent) industries were also down.

Inventories fell for the fourth consecutive month, down 0.2 percent to $70.7 billion in May, the lowest level since December 2014. Inventories were down in 12 of 21 industries. Petroleum and coal recorded the largest decrease, with inventory levels down 3.8 percent. Lower inventories in the primary metal (-0.3 percent) and motor vehicle (-0.8 percent) industries also contributed to the overall decrease. These declines were partly offset by higher inventories of food products (+0.5 percent).

The inventory-to-sales ratio rose from 1.41 in April to 1.42 in May. This ratio measures the time in months that would be required to exhaust inventories if sales were to remain at their current level.

Unfilled orders rose for the second consecutive month, up 1.3 percent to $88.8 billion in May as a result of a gain in the aerospace product and parts industry.

New orders rose 0.3 percent, as a result of growth in the aerospace product and parts industry.

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