Canadian manufacturing sales rise to record levels in March

Wednesday, 17 May 2017 00:12:54 (GMT+3)   |   San Diego
       

According to Statistics Canada, manufacturing sales increased 1.0 percent to a record $53.9 billion in March, reflecting higher sales in the transportation equipment and food industries. Overall, sales were up in 16 of 21 industries, representing 71 percent of the Canadian manufacturing sector. Sales of durable goods rose 1.3 percent to $28.4 billion, while sales of non-durable goods increased 0.7 percent to $25.4 billion. In constant dollars, manufacturing sales in volume terms rose 0.2 percent.
 
Sales in the transportation equipment industry rose 2.1 percent to $11.1 billion in March, following two months of declines. The increase was the result of gains in the motor vehicle (+4.5 percent) and the motor vehicle parts (+1.8 percent) industries, reflecting higher volumes and prices. After removing the effect of price changes, sales in volume terms increased 3.1 percent and 0.5 percent respectively in these industries in March.
 
Total manufacturing inventories increased 1.2 percent to a record high $72.7 billion in March. This was the fourth consecutive increase in inventories, with 17 of 21 industries posting higher levels. The gains were attributable to the transportation equipment (+3.1 percent), beverage and tobacco (+9.3 percent) and machinery (+1.4 percent) industries.
 
The inventory-to-sales ratio was unchanged at 1.35 in March.
 
Unfilled orders rose for the third consecutive month, up 1.8 percent to $90.2 billion in March. Transportation equipment (+1.3 percent), machinery (+5.2 percent), and computer and electronic products (+6.6 percent) were responsible for the increase in unfilled orders in March. Year over year, unfilled orders were up 3.8 percent.
 
New orders rose for a fourth consecutive month, up 2.6 percent to $55.4 billion in March. The transportation equipment, computer and electronic product and machinery manufacturing industries contributed the most to the increase in new orders at the national level.

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