ECONOMIC DEVELOPMENTS AND TRENDS: Manufacturing waits on the US

摘要

Statistics Canada reports Canada's manufacturing sector saw a 0.7% increase in sales over May from 11 of 21 industries, following two months of declines. It was the second gain in five months, but only the fifth in 17 months. Helping to make up lost ground were chemicals driven by fertilizer sales (thanks to a late start to the planting season), up 5.1% or $195 million for a $4 billion total. Other gains came from primary metals (4%), fabricated metals (3.4%), and machinery (3.8%), which were offset by declines in wood products (down 4.8%), food (1.3%), and petroleum and coal products (1%). Inventories supped for the first time in five months by 0.2%, with inventory-to-sales ratio down a peg from 1.43 to 1.42. But there were advances in unfilled orders (up 0.6%) and new orders (1.8%).