OTTAWA, Ont. — In May, unfilled orders fell 3.4% to $40.5 billion, the lowest level since June 1998, Statistics Canada reported today.
Unfilled orders are the stock of orders that will contribute to future shipments.
Unfilled orders have decreased for nine consecutive months, the longest string of declines since 14 were reported during the 1990-1991 recession.
May’s decrease was concentrated in the machinery and aerospace products and parts industries. Following a strong build-up earlier in the year, unfilled orders for the machinery industry declined 10.8% to $6.3 billion in May. Partly as a result of the sharp drop in petroleum prices, significant decreases in orders were reported by the mining and oil and gas field machinery manufacturing industry.
The ongoing downturn in the global aviation sector continued to pose obstacles for aerospace manufacturing. In May, the aerospace products and parts industry reported a 3.2% drop in unfilled orders to $12.7 billion. Unfilled orders have now decreased for 20 consecutive months, and are almost 40% below levels of September 2001, the last month to report higher orders for aerospace products and parts.
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