Canadian Manufacturing Sales Fall Again

Sales were down last month as well.

For the second month in a row, Canadian manufacturing sales have dropped.

October sales were down 0.7%, with sales dropping in 11 of 21 industries.

The biggest drop was in fabricated metals, where sales were down 8.2%

Motor vehicle manufacturing is down 4.7%, while motor vehicle parts manufacturing fell 4.6%.

On a year-over-year basis, manufacturing sales in Canada are down a full 2.1%.

As noted by BNN Bloomberg, “Also concerning is the uptick in the inventory to sales ratio to 1.54 in October, still resting at one of the highest levels since the financial crisis. The high level of inventories poses a risk to the sector if companies opt to draw on stockpiles instead of increase production.”

Alongside rising household debt and the horrendous recent jobs numbers, this is more evidence of Canada’s weakening economy.

Spencer Fernando

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NancyW

Some Canadians cannot figure it out still. I would laugh except it is too sad but 2020 Toronto property taxes are going up over 14% this year, they are breaking this down into a 4.2% property tax and an add on of 10% to cover some projects they don’t have enough money for and now businesses are screaming they will have to close especially when the carbon tax goes up again in 2020. They voted for this, so far Doug Ford has not said anything as everything he says is misconstrued and the media demonizes him about it. Does anyone… Read more »

Joe

Another unique problem that our government has created with globalization…
With all these different complex vehicles and appliances, the cost is too prohibitive to recycle these products as the unknown metal compositions and different types of chemicals in the plastic components. Each year, new models and components increase that complication.
The electric cars will be worse as now being electrocuted by the high voltages has already taken some lives of inexperienced car mechanics.

Donald O'Kane

SURPRISE! SURPRISE! SURPRISE! – NOT!!!!