OTTAWA, Ont. — Manufacturers’ total inventories increased slightly in June, gaining 0.4% to $62.8 billion, according to Junes Statistics Canada tally.
Previously, inventories had decreased 0.4% in May, remaining fairly stable over the past year.
In June, 11 of 21 industries reported an increase to their inventories, although most of the increase came on the back of two major gains during the month. Automotive vehicle manufacturers reported a sizeable 11.5% increase in inventories during the month, possibly due to early preparation for summer shutdowns. Chemical product manufacturers also reported an increase, with inventory levels rising by 2.7% or $178 million.
These increases were partially offset by a 2.5% decrease in inventories for aerospace products and parts manufacturers.
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