Economy
Sales Volume Up 1% for Canadian Manufacturing
Written by Sandy Williams
November 17, 2013
Canadian manufacturing sales rose 0.6 percent to $49.9 billion in September according to the November release by Statistics Canada. Sales were at their highest level since June 2012 mostly due to gains in the automobile and food industries. Volume sales gained 1.0 percent for the month, a positive indicator for economic health.
Of the 21 industries surveyed, 11 reported higher sales in September. Sales of both durable and non-durable goods rose 0.6 percent.
Manufacturers saw a decline of 0.9 percent in inventories quarter-over-quarter but were up 1.5 percent year-over-year. Unfilled orders declined 2.2 percent and new orders fell 2.6 percent as a result of a decrease in demand in the aerospace products and parts industry. The inventory to sales ratio (months on hand at current sales levels) dropped to 1.37 from 1.39 in August.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Industry groups praise Senate for passing tax and budget bill
The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.
Chicago PMI dips 0.1 points in June
The Chicago Purchasing Managers Index (PMI) slipped 0.1 points to 40.4 points, in June.
Multi-family pullback drives housing starts to 5-year low in May
US housing starts tumbled in May to a five-year low, according to figures recently released by the US Census Bureau.
Architecture firms still struggling, ABI data shows
Architecture firms reported a modest improvement in billings through May, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.
Manufacturing in New York state contracts again
However, companies are growing more optimistic about the future.