Manufacturing sales declined 1.7 per cent to $50 billion in February, the fourth decrease in five months, said Statistics Canada Wednesday. The drop reflected lower sales of motor vehicles and reduced production of aerospace products and parts. Monthly manufacturing sales have fallen 6.8 per cent since their most recent high of $53.7 billion in July 2014.
Sales data for January that was originally estimated as a 1.7 per cent decline was revised to a 3 per cent decline, as a result of new information provided to Statistics Canada by respondents.
Sales fell in 10 of 21 industries representing just over half of all Canadian manufacturing.
Inventories rose 0.9 per cent in February to $72.2 billion, the highest level since the current series began in 1992. The increase reflected higher inventories held in the motor vehicle and food industries.
The inventory-to-sales ratio rose from 1.41 in January to 1.44 in February. 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.
