Canada’s manufacturing sales rose 1.7 per cent in December, despite a 9.3 per cent drop in sales of petroleum and coal products, said Statistics Canada Friday. Excluding the petroleum and coal product industry, manufacturing sales were up 3.2 per cent. The gain reflected higher sales in the transportation equipment industry
Overall, sales were higher in 17 of 21 industries, representing nearly 80 per cent of total Canadian manufacturing.
Canada Manufacturing Sales and Inventories: Dec 2014
Manufacturing sales in Canada increased in seven provinces in December, led by Ontario, Quebec, and British Columbia.
The 2.3 per cent sales increase in Ontario reflected gains in the transportation equipment and machinery industries. Overall, 16 of 21 industries reported higher sales in December, representing 77.7 per cent of total manufacturing in the province. Sales in Ontario were 5.9 per cent higher in December 2014 than in December 2013.
Inventories fell 1.4 per cent in December as a result of lower stocks in the petroleum and coal product and motor vehicle industries.
The inventory-to-sales ratio declined from 1.38 in November to 1.34 in December. The inventory-to-sales ratio measures the time, in months, that would be required to exhaust inventories if sales were to remain at their current level.