Canadian manufacturing inventories increased 1.5% in September with goods in process, raw materials and finished products all contributing to the increase. PHOTO courtesy Prima Power.
Total manufacturing inventories increased 1.5% to $123.4 billion in September, on higher goods in process (+2.4%), raw material (+1.1%) and finished product (+1.3%) inventories, Statistics Canada date indicate.
The inventory-to-sales ratio rose from 1.68 in August to 1.70 in September. 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 fell 1.2% to $101.9 billion in September, primarily on a 1.6% decline in unfilled orders in the aerospace product and parts industry. Production of aerospace products and parts often increase at the end of each quarter, resulting in lower unfilled orders.