OTTAWA, Ont. — Despite soaring petroleum prices and a strong Canadian dollar now lingering above the 80 cent US mark, these less-than-ideal market forces did not completely deter manufacturing in the first three months of 2005.
Quarterly shipments were up 5.7% compared to January-to-March 2004, according to Statistics Canada data. According to the latest Business Conditions Survey, manufacturers anticipate they will maintain the same level of production in the coming three months, notwithstanding several production impediments. These impediments include the strengthened Canadian dollar, high finished product inventories, shortages of raw materials and labour, and cheap imports.
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