OTTAWA, Ont. — Following six consecutive declines, manufacturers held inventories constant at $59.9 billion in November, the lowest level since February 2000, according to Statistics Canada records.
That’s likely good news for carriers hoping that inventories have bottomed out and Canadian companies will soon start calling on their services to help replenish them.
The rate of depletion has slowed in recent months. Inventories are down 6.2% since the latest high of $63.9 billion in April.
By stage of fabrication, raw materials inventories continued an eight-month decline, falling 0.6% to $25.9 billion. This was offset by November’s 1.1% rise in goods-in-process inventories, ending a six-month slide. Meanwhile, finished-product inventories were largely unchanged at $18.9 billion.
Higher inventories of chemical products (+2.1%) and primary metals (+1.2%) were offset by declines in the computer (-1.5%) and railroad rolling stock industries (-5.3%).
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