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 Canadian manufacturing inventories increase

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Canadian manufacturing inventories are on the increase with a 0.7% rise in October, the second consecutive monthly gain. PHOTO courtesy PRIMA Power.

Total inventories for Canadian manufacturing increased 0.7% to $123.8 billion in October, the second consecutive monthly gain, on higher raw material (+0.8%), finished product (+0.8%) and goods in process (+0.2%) inventories, according to Statistics Canada’s monthly report.

Inventories rose in 13 of 21 subsectors.The gains were partially offset by a 2.1% decline in inventories of machinery.

The inventory-to-sales ratio rose from 1.69 in September to 1.75 in October, the highest since June 2020. This ratio measures the time, in months, that would be required to exhaust inventories if sales were to remain at their current level.

Unfilled orders meanwhile edged up 0.2% to $102.4 billion in October, primarily on an 1.8% increase in unfilled orders of aerospace products and parts. On a yearly basis, total unfilled orders were down 7.2% in October.

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