According to Statistics Canada, manufacturing sales edged down 0.2 percent in February to $53.6 billion, following three consecutive monthly increases. The largest declines were in the motor vehicle assembly and petroleum and coal product manufacturing industries. However, these decreases were largely offset by gains in the aerospace products and parts, primary metal and machinery industries.
Sales were down in 10 of the 21 industries, representing 37 percent of the Canadian manufacturing sector. Sales in the motor vehicle assembly industry were down 5.3 percent to $5.7 billion in February, following two months of gains. The decline in February was mostly attributable to fewer vehicles produced. After removing the effect of price changes, sales in volume terms decreased 4.6 percent in February.
These declines in current dollars were partially offset by increases in the aerospace product and parts (+27.0 percent), primary metal (+2.8 percent) and machinery (+3.1 percent) manufacturing industries. Once the effects of price changes are taken into consideration, sales volumes increased by 30.7 percent, 2.0 percent and 3.2 percent respectively in these three industries.
Inventory levels rose 1.6 percent to $71.9 billion in February, a third consecutive monthly gain. Inventories were up in 13 of 21 industries, with the largest gains in the transportation material (+6.0 percent), primary metal (+2.9 percent) and fabricated metal product (+3.0 percent) industries. The inventory-to-sales ratio rose from 1.32 in January to 1.34 in February.
Unfilled orders rose 0.7 percent to $88.2 billion in February, a second straight monthly gain. The increase in February was largely attributable to more unfilled orders in the fabricated metal product and transportation equipment industries.
Unfilled orders rose 0.7 percent to $88.2 billion in February, a second straight monthly gain. The increase in February was largely attributable to more unfilled orders in the fabricated metal product and transportation equipment industries.
New orders were up for a third consecutive month, rising 0.8 percent to $54.3 billion in February, led by gains in the transportation equipment, clothing and fabricated metal product industries. The increase was partially offset by fewer new orders in the petroleum and coal product; electronic equipment, appliance and component; and machinery industries.