The Canada Monthly Survey of Manufacturing, March 2014 was just released indicating a 0.4 percent improvement in manufacturing sales in March.
Higher sales were seen in food, machinery and plastics & rubber, but were offset by declines in paper, petroleum and coal products. Two thirds of the manufacturing sector had increased sales in March with sales of both durable and non-durable goods increasing 4 percent.
Primary metal sales increased to CAN $3,846 million, up 0.2 percent from February and 0.9 percent year over year. Fabricated metal product sales totaled CAN $2,850 million, an increase of 1.7 percent from February and 1.9 percent from March 2013.
Transportation equipment in March showed no change from February but was up 4.9 percent y/y. Machinery sales increased 3.3 percent from the previous month and 7.6 percent from March 2013.
New orders fell 19.9 percent to $50.2 billion in March. Unfilled orders declined by 0.8 percent following a 15.4 percent gain in February. The decline was attributed mostly to the drop in orders for transportation equipment which represented almost three-quarters of total orders.
Inventories increased 0.2 percent during the month. The inventory to sales ratio (time required to exhaust inventories at current sales rate) was unchanged in March.
Sandy WilliamsRead more from Sandy Williams
Latest in Economy
ABI Index Drops in August
August’s Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek showed a moderate decrease.
Beige Book: Economic Activity Appears Stable
The US Federal Reserve said that although overall economic activity was modest in July and August, per its latest Beige Book Report released on Sept. 6, the report was still slightly more optimistic than the previous one.
Dodge Momentum Declines in August on Tighter Lending
The Dodge Momentum Index (DMI) moved lower in August, driven by a slowdown in planning from tighter lending standards, according to the latest data from the Dodge Construction Network (DCN).
ISM PMI Shows 10 Months of Decline in Manufacturing Activity
Activity in the US manufacturing sector continues to slow, according to the latest monthly report on business from the Institute for Supply Management (ISM).
Chicago Business Barometer Rises for Third Consecutive Month
The Chicago Business Barometer edged up in August. This is the third consecutive monthly increase according to the latest indicators from Market News International (MNI) and the Institute for Supply Management (ISM).