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Significant gains in manufacturing for January: Stats Can

Published by Frank Defalco on March 18, 2014

OTTAWA - A weakened dollar helped the manufacturing sector secure substantial inventory gains in January according to StatsCan data released today. Manufacturing sales saw their largest gains since Feb 2013, as well, and unfilled orders followed December’s 4.1 per cent with a further 4.8 per cent increase.  

Aerospace products and parts led the inventory gains though nearly all manufacturing industries showed an increase. Total inventory levels rose 3.6 percent to $71.4 billion with aerospace advancing 6.7 per cent to $8.1 billion.

Petroleum and coal inventories rose to their second highest level on record jumping 6.2 per cent to $6.2 billion. Most gains are accounted by higher volume of goods-in-process, as well as, finished product at refineries.

Sales jumped in four provinces with Quebec seeing the highest gains at 4.4 per cent to $12.1 billion, their highest level since January 2011. Alberta and BC also saw moderate gains of 4.3 and 3.3 per cent, respectively.

Unfilled orders in aerospace rose 6 per cent, following an upward trend over the past three years since reaching a low of $20.7 billion in December 2010, to $48.1 billion. The bulk of unfilled orders in the industry are held in US dollars which advanced 4.5 per cent in January accounting more most of the gains.

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Found in: Stats Canada

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