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Canada’s flat manufacturing sales mask a decline after price adjustment

The November 13 release puts September sales at C$80.2 billion, with petroleum gains offsetting declines elsewhere.

Canada Examiner · News Desk

Canadian manufacturing sales were essentially unchanged in September at C$80.2 billion, Statistics Canada reported November 13. After adjustment for price changes, sales fell 1.5%. The monthly comparison follows a 1.8% increase in current-dollar sales in August.

Sales declined in 11 of the 21 subsectors. Primary metals fell 9.5% and wood products 7.0%, while petroleum and coal products rose 10.0%. Excluding petroleum and coal products, total manufacturing sales declined 1.5%. The release covers September business activity, rather than sales measured in November.

Inventories increased 1.7% to C$130.5 billion, and the inventory-to-sales ratio rose from 1.60 to 1.63 months. Third-quarter sales increased 1.7% in current dollars but declined 0.3% in constant dollars. The price-adjusted results therefore give a different view of the quarter from the headline sales value.