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Canadian Manufacturing Sales Edge Up in June

Canadian manufacturing sales edged up 0.1 percent to $44.8 billion in June. Sales have advanced in 11 of the past 13 months since the low reached in May 2009.

Constant dollar manufacturing sales rose 0.7 percent to $41.7 billion in June. Constant dollar sales were 15.3 percent higher than in May 2009.

Sales gains were reported in 9 of 21 industries, representing 50.1 percent of total sales.

By Sector
Although nine industries reported increased sales in June, these were largely offset by declines in the remaining 12 industries.

Sales rose 4.8 percent in the paper industry. The increase mostly reflected higher sales volumes. Following the low reached in May 2009, sales have increased in 11 of the past 13 months.

Other industries reporting gains in June included furniture (+6.4 percent), fabricated metal products (+2 percent) and chemical manufacturing (+1.2 percent).

Sales declined 2.1 percent in the food industry and 1.5 percent in the petroleum and coal products industry.

By Province
In Manitoba, a 4.8 percent sales gain reflected a rise in the province's durable goods industries.

Sales in British Columbia advanced 2.1 percent in June as a result of increases in several industries. Sales in the province have risen in five of the past six months.

In Quebec, sales declined 0.2 percent, despite a 14.7 percent increase in the chemical manufacturing industry. Lower sales in food, petroleum and coal products and the primary metals industries contributed to the provincial decrease.

Ontario (-0.2 percent) also posted lower sales in June, with computer and electronic products, plastics and rubber products and the chemical manufacturing industries contributing to the decline.

Sales were also down in Saskatchewan (-1.4 percent) and Alberta (-0.3 percent).

Sales remained unchanged for the Atlantic provinces in June. Sales increases in Prince Edward Island (+7.1 percent) and New Brunswick (+0.2 percent) were offset by a sales declines in Newfoundland and Labrador (-1.6 percent) and Nova Scotia (-0.5 percent).

Inventory Levels
Inventory levels rose 0.7 percent to $58.8 billion in June. This was the first increase since February, primarily reflecting a rise in the value of inventories held in the petroleum and coal products (+4.1 percent), chemical manufacturing (+2.4 percent) and wood products (+3.2 percent) industries. The increase in the value of petroleum and coal products inventories was fuelled by higher volumes held at several refineries.

Declines in the food industry (-1.4 percent) and the paper industry (-2.4 percent) partially offset the gains.

The inventory-to-sales ratio edged up to 1.31 in June. The value of the ratio has been relatively stable since March, after falling from its most recent peak of 1.63 in May 2009.

Unfilled orders increased 1.3 percent to $54.1 billion in June. Transportation equipment, machinery and fabricated metal product industries accounted for most of the advance. Since its most recent low of $51.3 billion in November 2009, unfilled orders have advanced 5.5 percent.

New orders fell 0.3 percent to $45.5 billion in June, the first decrease since March 2010.

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