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(June web) AD-Grow-Faster-970x90-Q2

Jul 17, 2023

May manufacturing sales increase

Manufacturing sales increased 1.2% to $72.9 billion in May, following a 0.1% decline in April, mainly driven by higher sales of chemical products (+4.8%), motor vehicles (+4.8%), and machinery (+4.2%), says Statistics Canada. Sales in primary metal manufacturing decreased the most (-6.9%). Year over year, total sales were up 0.2% in May. Total sales in constant dollars rose 2.2%, indicating a higher volume of goods sold. Manufacturing sales increased in five provinces in May, led by Ontario and Alberta. Quebec posted the largest decline. Total inventory levels declined 0.6% to $122.8 billion for the month on lower inventories in 11 of 21 manufacturing industries, led by the food product (-3.5%), petroleum and coal product (-3.0%), and motor vehicle parts (-8.8%) industries. Lower raw materials (-1.0%) and finished product inventories (-0.8%) were responsible for the decline. On a year-over-year basis, total inventories were still up 7.0% in May.

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