The inventory-to-sales ratio for Canadian manufacturers stood at 1.72 months in March. PHOTO by Pexels.
Total inventory levels increased 0.5% to $124.5 billion in March, on higher goods in process (+1.5%) and raw materials (+0.7%), Statistics Canada reports.
Many of the inventory gains were attributable to high inventories in the computer and electronic product (+8.6%) and primary metal (+1.5%) industries.
The inventory-to-sales ratio decreased from 1.73 in February to 1.72 in March. This ratio measures the time, in months, that would be required to exhaust inventories if sales were to remain at their current level.
Meanwhile the total value of Canadian manufacturing unfilled orders declined 2.2% to $106.2 billion in March, primarily driven by lower unfilled orders in the aerospace product and parts (-2.3%) and machinery (-3.6%) industries.
