Manufacturing sales fell 6.4% to $48.4 billion in November, their lowest level since December 2004 and fourth straight monthly decline, Statistics Canada reported Tuesday.
Constant dollar manufacturing sales, which are measured in 2002 prices, decreased by 3% in November, meaning about half the drop in current dollar series reflected price declines from October.
StatsCan said the most significant price decreases were in the petroleum and coal industry, down 18.5%, and the primary metal industry, down 6%.
Sales in 12 of 21 manufacturing industries decreased in November, accounting for over 80% of total sales.
November sales were down in the five largest industries, led by a 20.6% drop in petroleum and coal product manufacturing, where sales have decreased by almost $3 billion compared with the peak of $8.2 billion reached in June 2008.
Primary metal manufacturers also reported significantly lower sales, down 17.4% to $4.1 billion.
Sales in the transportation equipment industry decreased 3.9% in November. Aerospace products and parts production pulled back 22.5%.
Chemical product manufacturers posted an 8.7% drop in sales, largely due to the resin, synthetic rubber, and artificial and synthetic fibres and filaments industry.
Every province reported decreased manufacturing sales in November, ranging from a 0.3% decline in Saskatchewan to a 31.5% drop in New Brunswick.
IE
Manufacturing sales fall for fourth straight month
November sales drop in five largest industry groups
- By: IE Staff
- January 20, 2009 January 20, 2009
- 10:10