Transportation equipment industry pushes manufacturing sales higher in December
Tuesday, February 16, 2010 at 11:21AM Canada's manufacturing sector saw increased sales of 1.6% to $43.0 billion in December, Statistics Canada reported today, the increase in seven months and the highest level since December, 2008. Sales advanced in eleven of the twenty-one manufacturing industries.
Most of the gains were in the transportation equipment industry, including aerospace products and parts, which rose 28.1%, motor vehicles, up 4.4% to $3.6 billion, and the petroleum and coal products industries, up 2.4%, reflecting greater sales volumes by refineries.
The gains in manufacturing were spread across eight provinces, with Ontario showing the largest gain ($438 million, to $19.9 billion), thanks mainly to motor vehicles, primary metals and miscellaneous manufacturing. Manufacturing sales decreased 2.3% in British Columbia, with declines in primary metals and wood products industries.
For the tenth month in a row, inventories declined across the manufacturing sector, down 1.0% in December to $59.0 billion, 11.3% lower than in December, 2008. The inventory-to-sales ratio declined also, reaching 1.37 in December, considered close to normal, as seen before November, 2008.
Unfilled orders rose 2.3% to $52.4 billion, with a 4.1% increase in unfilled orders for transportation equipment accounting for the overall gain in manufacturing. New orders also advanced for the fourth time in six months, up 7.4%, to $44.2 billion, again reflecting strength in the transportation equipment industry.
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