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In The News:

Canadian Manufacturing Sales Increase 1.4% in February

Canadian manufacturing sales increased 1.4 percent in February to $51.2 billion, according to Statistics Canada. This is the largest gain since July 2008. The increase mostly reflected higher sales in the transportation equipment industry and the petroleum and coal product industries.

Constant dollar sales were up 0.8 percent, indicating a rise in volumes. Compared to current dollar sales, constant dollar sales decreased 8.2 percent below the July 2008 peak.

Transportation equipment sales rose 4.3 percent to $8.9 billion.

Petroleum and coal product industry sales increased 2.9 percent to $7.5 billion, reaching their highest level since March 2012.

Sales declines were widespread in computer and electronic product industries and wood product.

Manufacturing sales were up in seven provinces, with Ontario leading the way posting a 2.9 percent increase to $23.3 billion.  

Sales in Newfoundland and Labrador posted a 16.2 percent increase to $592 million in February, following a 14.9%decline in January.

Manitoba manufacturing sales rose 6.3 percent to $1.3 billion, reaching the highest level since July 2012. This largely reflected higher sales in the transportation equipment industry.

Sales in British Columbia declined 3.0 percent to $3.4 billion

Unfilled orders increased to 16.5 percent to $91.6 billion, the largest monthly increase since 1992.

In the transportation equipment industry, inventories rose 1.7 percent to $13.1 billion. Wood product inventories increased 4.2 percent to $3.9 billion and fabricated metal products rose 1.6 percent to $4.7 billion.

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