OTTAWA, Ont. — Canadian manufacturing sales took a step back in March, dropping 2.7% and reversing February’s gain, according to the latest figures from Statistics Canada.
The latest figures indicate Canadian manufacturing sales have dropped 25% since July, 2008 with most of that drop occurring between November 2008 and January 2009.
Quebec was the hardest hit, accounting for more than half the national decrease. Quebec sales fell 6.1%, reaching its lowest level since June 2003.
In total, 15 of 21 manufacturing industries saw a decrease in March. Motor vehicle parts sales dropped 17.6% in March, even though motor vehicle sales jumped 22.2%. Despite the recent bump, motor vehicle sales are still 50% below levels of a year and a half ago, according to StatsCan.
Inventories also decreased in March, to the tune of 1.7%, marking the fourth decline in five months.
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