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MNI DATA IMPACT: March Mfg Sales Up 2.1% As Expected

By Courtney Tower
     WASHINGTON (MNI) - The following are the key points from the March data on
Canadian manufacturing sales released Thursday by Statistics Canada: 
     - Sales increased 2.1% in March, matching expectations by analysts surveyed
by MNI. While sales were up in eight of the 10 provinces, and well reversed the
0.2% decline in February, they were up only in 12 of 21 industries covered,
representing 56% of the Canadian manufacturing sector. Real sales were up 1.6%
after decreasing by -0.3% in February. 
     - Among sectors posting the largest gains was a 4.5% increase for sales of
transportation equipment after three consecutive monthly declines. Their main
gain was in motor vehicle sales (+6.5%), with higher sales at all Canadian motor
vehicle assembly plants. Several of these drew down accumulated inventories.
Real sales for motor vehicles were up 5.9% on the month. 
     - Sales were up for the third consecutive month in the petroleum and coal
product industry (+8.2%), on higher sales from refineries in both western and
eastern Canada. Real sales in this industry were up 3.2% in March. 
     - Inventories overall rose (+1.0%) for the fourth consecutive month, and in
March were 9.5% higher than in March a year ago. Sales rose 1.3% in non-durable
industries, and by +2.9% in durable industries. Year-over-year, these categories
were up 1.5% and 2.4% respectively. 
     - The unadjusted capacity utilization rate in manufacturing increased to
80.7% in March from 78.5% in February, in 17 of the 21 industries. 
--MNI Ottawa Bureau; tel: +1 202-371-2121; email: dcoffice@marketnews.com
[TOPICS: MACDS$,M$C$$$]

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