Canadian Manufacturing Shipments Up For June

According to Statistics Canada, Canada’s national statistical agency, manufacturing shipments increased 1.9 percent to $51.4 billion in June, the highest level since January 2006 and while the trend for manufacturing is positive, shipments have been consistently in the $50 billion to $52 billion a month range for the last two years, despite the rising Canadian dollar and increased global competition.

Over the second quarter, shipments were down 0.4 percent from the first quarter but up 0.6 percent compared to the same period in 2005. Accounting for price fluctuation, total shipments increased 0.7 percent in June. Gains were posted in 13 of 21 manufacturing industries, accounting for 80 percent of total shipments.

Manufacturers’ total inventories fell $454 million to $65.8 billion in June, a 0.7 percent decrease and the largest drop since September 2005. The inventory-to-shipment ratio decreased from 1.31 to 1.28 in June, due to the increase in the value of shipments and the decline in inventories.

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