Previous -1.1%
The Canada Manufacturing sales for the month of May came in better than expectations at 1.4% vs 0.4%. The prior month came in at -1.1%
- Sales rose in 14 of 21 industries (64% of the total sales)
- The inventory to sales ratio went to 1.43 down from 1.44 last month
- The chemical, machinery, and wood product industries accounted for most of the gains in May
- The transportation equipment industry posted the largest decline.
- Manufacturing sales were up in seven provinces in May, led by Alberta and British Columbia
- Manufacturing inventories rose 0.4% to a record high $81.5 billion in May.
- Inventories were up in 9 of 21 industries, representing 58% of total manufacturing inventories.
- Unfilled orders were up 3.5% to $92.8 billion in May, the fourth consecutive monthly gain
- The unadjusted manufacturing capacity utilization rate increased from 80.6% in April to 81.9% in May.
