OTTAWA, Ont. — Following successive declines in August and September, manufacturers’ inventories advanced 0.5% to $65.8 billion in October, the latest Statistics Canada records indicate.
Despite October’s increase, however, the upward trend in inventory accumulation has been gradually slowing since mid-2004.
Manufacturers reported the first increase in finished product inventories in three months. Finished products were $21.9 billion, up 0.8% from September. Goods-in-process inventories were also higher by the close of the month, rising 0.9%. Meanwhile, inventories of raw materials remained relatively constant at $28.7 billion.
Sizeable gains in the aerospace (+3.3%), plastics and rubber products (+3.0%) and wood products (+1.4%) industries contributed to the rise in inventories.
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