OTTAWA, Ont. — Non-farm inventories were down $748 million in the fourth quarter, marking the first drop in 10 consecutive quarters, Statistics Canada records show.
Manufacturers and retailers substantially reduced inventories of non-durable goods. Inventory run-down, especially significant in automotive products, occurred against a backdrop of increased exports and consumer demand for these types of products.
The economy-wide inventory-to-sales ratio in real terms fell to 0.666 in the fourth quarter, from 0.674 in the third.
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