Gains in auto, aerospace spur recovery in Canadian manufacturing
Canadian manufacturing sales rose 1.6% in December 2009 to total $43-billion, due largely to strong sales in t...
Canadian manufacturing sales rose 1.6% in December 2009 to total $43-billion, due largely to strong sales in the automotive and aerospace industries.
According to Statistics Canada, which released the figures, this was the sixth increase in overall manufacturing sales in seven months, and the highest level since December 2008.
Strength was concentrated in aerospace and auto manufacturing, the agency said, which rose 4.4 per cent to $3.6-billion as Chrysler and General Motors restarted production after their exit from bankruptcy protection last year.
Sales for the aerospace industry, meanwhile, surged 28.1 per cent following a decline of 17.1 per cent in November.
Statistics Canada said manufacturing sales rose in eight provinces. The biggest monetary gain was in Ontario, where sales increased by $438-million to $19.8-billion, a rise of 2.3 per cent.
Inventory levels declined one per cent in December to $59 billion, the agency also said, with inventory decreases widespread across the manufacturing sector. The inventory-to-sales ratio fell for the fifth time in seven months.
Also, new orders advanced 7.4 per cent in December to $44.2 billion – the fourth gain in six months – reflecting this new strength in the transportation equipment industry.