CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

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CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

Total inventories decline for the third consecutive month

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With the third monthly drop in manufacturing inventories, the Canadian inventory-to-sales ratio is down to 1.68. PHOTO courtesy Cooper Standard. 

Total inventories for Canadian manufacturers decreased 0.7% to $120.6 billion in February, the third consecutive monthly decline, according to Statistics Canada’s Monthly Survey of Manufacturing.

Lower goods in process (-1.8%) and raw materials (-0.5%) inventories largely contributed to the decrease in February. From an industry perspective, lower inventories of chemicals (-5.5%) and petroleum and coal products (-2.7%) were mainly responsible for the decline. Total inventories in constant dollars declined 0.8% in February.

The inventory-to-sales ratio contracted from 1.71 in January to 1.68 in February. This ratio measures the time, in months, that would be required to exhaust inventories if sales were to remain at their current level.

The total value of unfilled orders rose 0.8% to $105.1 billion in February, largely on a 1.2% increase in unfilled orders of aerospace products and parts.

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