Importance Score: 42 / 100 🔵
Canadian Manufacturing Sales Edge Up in February
OTTAWA, April 15 (Reuters) – Canada’s manufacturing sector experienced a marginal increase in sales for February, climbing 0.2% from the prior month, according to data released by Statistics Canada on Tuesday. The growth was primarily driven by stronger sales in primary metals and chemical products, providing a slight boost to the Canadian economy.
Manufacturing Sales Performance
The federal agency’s report indicated that excluding the volatile motor vehicles and parts category, manufacturing sales demonstrated a slightly better performance, rising by 0.3%.
Key Economic Indicators: Month-over-Month Change (%)
The following table outlines the key economic indicators reflecting month-over-month changes in Canadian manufacturing:
- Sales: +0.2% (February) vs. +1.6% (revised January)
- Sales ex-autos: +0.3% (February) vs. +0.8% (revised January)
- Inventories: +0.8% (February) vs. +1.0% (revised January)
- Unfilled orders: -0.5% (February) vs. +0.9% (revised January)
- New orders: -1.8% (February) vs. +1.2% (revised January)
Inventory-to-Sales Ratio
The inventory-to-sales ratio, a key metric for assessing inventory management, stood at 1.67 in February, slightly up from 1.66 in January.
- Inv/sales ratio: 1.67 (February) vs. 1.66 (revised January)
Analyst Forecasts vs. Actual Sales
It is important to note that these figures are seasonally adjusted to provide a clearer picture of underlying trends. Prior to the release, analysts surveyed by Reuters had anticipated a 0.2% decrease in factory sales for February compared to January. The actual figures, therefore, represent a slightly more positive outcome for Canadian manufacturing than expected.
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