OTTAWA, Ont. — March’s substantial drop in shipments coupled with a rise in inventories contributed to the sizeable boost in the inventory-to-shipment ratio.
The ratio, which has been on an upward trend since last summer, rose to 1.30 in March from February’s 1.26, according to Statistics Canada. This was its highest level since November 2003.
The inventory-to-shipment ratio is a key measure of the time, in months, that would be required to exhaust inventories if shipments were to remain at their current level.
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