Canadian manufacturing sales fell in October: StatsCan
Statistics Canada says manufacturing sales fell 0.6 per in October to $52.7 billion, the second drop this year.
According to StatsCan, the drop was due to lower production of aerospace products and parts. It adds there was also a decrease in primary metal sales.
“Notwithstanding the lower overall sales, manufacturers in 15 of 21 industries, representing more than 60% of total manufacturing, reported higher sales in October,” the agency said. “Excluding the aerospace product and parts, and primary metals industries, sales in the manufacturing sector rose 0.4%.”
Inventories in the manufacturing sector rose 0.5% to $71.3 billion in October, the agency continued, with higher stocks in the transportation equipment, fabricated metal product, and machinery industries all contributing to the increase.
Manufacturing sales fell in six provinces, with Quebec and New Brunswick posting the largest declines.
Sales in Quebec decreased 3.0% in October, StatsCan said, giving back part of the 6.7% increase recorded in September. “Manufacturers of aerospace product and parts, and primary metals reported the largest declines,” StatsCan said. “Notwithstanding the decrease, sales in October were 5.5% higher than in October 2013 and have surpassed the $12-billion mark in each of the last five months, a streak that was last observed in 2008.”
In New Brunswick, manufacturing sales fell 11.7% to $1.3 billion – their lowest level since November 2010 – mainly as result of lower sales of non-durable goods. This was the third consecutive month of lower sales for the province, StatsCan said, and the ninth decline in 12 months.
“Lower sales in these provinces were partially offset by gains in Newfoundland and Labrador, where sales more than doubled as a result of a jump in the sale of non-durable goods,” StatsCan said. “Manufactured goods sales in Newfoundland and Labrador tend to be volatile compared with other provinces.”
In addition, sales in Alberta rose 1.3% to $6.8 billion, the second consecutive increase. The rise was widespread as 14 of 21 industries posted higher sales, led by a 3.2% increase in the sale of food.