Manufacturing Sales See Increase

Manufacturing sales rebounded in October, rising 4.3 per cent to $61.2 billion, following a 2.8 per cent decline in September, says Statistics Canada. Sales increased in 17 of 21 industries in October, led by the motor vehicle, motor vehicle parts, and primary metal industries, while aerospace product and parts industry posted the largest decline. Furthermore, sales in constant dollars increased 3.1 per cent in October, indicating a higher volume of goods sold, but also inflationary pressures. Sales of the primary metal industry rose four per cent to $5.4 billion in October, driven by higher sales of alumina and aluminum products. Sales in the alumina and aluminum production and processing industry reached their highest level on record in October, rising 10.2 per cent to $1.4 billion. On a year-over-year basis, sales in the primary metal industry rose 41.3 per cent. Sales of chemical products also rose to their highest level on record, up 3.7 per cent to $5.3 billion in October. Total inventories increased 1.5 per cent to a record high $99.6 billion in October.