Canadian manufacturing inventories are at record levels.
Total inventories increased 1.8% to a new record high of $105.0 billion in January, according to data released by Statistics Canada. Year over year, total inventories rose 19.4% in January.
The inventory-to-sales ratio also increased from 1.60 in December to 1.62 in January. This ratio measures the time, in months, that would be required to exhaust inventories if sales were to remain at their current level.
