OTTAWA, Ont. Manufacturing inventories have continued unabated since January 2004 and March was no exception. Inventories climbed a further 0.5% to $64.5 billion, the highest level since November 2001, Statistics Canada records indicate.
The boost in inventories was largely concentrated in raw materials, which increased 1.1% to $27.9 billion in March, the third monthly gain. This was partly counterbalanced by the relatively stable levels of goods-in-process ($14.4 billion) and finished products ($22.2 billion) inventories.
The motor vehicles (+15.0%), fabricated metal products (+1.6%) and beverage and tobacco products (+2.6%) industries were the primary contributors to the rise in inventories in March.
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