Canada chemical sales rise 1.1% in Oct from Sept – agency

14 December 2011 19:28  [Source: ICIS news]

TORONTO (ICIS)--Canadian sales of chemicals rose 1.1% to Canadian dollar (C$) 4.06bn ($3.90bn, 3.00bn) in October from September, a statistics agency said on Wednesday.

Sales of plastics and rubber products rose 3.2% to C$1.89bn in October from September, Ottawa-based Statistics Canada said.

However, Canada’s overall manufacturing sales fell 0.8% to C$48.7bn in October from September, after sequential increases in each of the previous three months.

Statistics Canada said October’s decline in manufacturing sales reflected primarily lower sales of petroleum and coals products, as well as a decline in sales of aerospace products and parts.

Meanwhile, overall industry inventories rose in October from September. The inventory-to-sales ratio increased to 1.33 in October from 1.30 in September, reflecting rising inventories and declining sales.

The inventory-to-sales ratio measures the time, in months, that would be required to exhaust inventories if sales were to remain at their current level.

Compared with October 2010, sales of chemicals were up 10.9% year on year, and sales of plastics and rubber products were up 8.5% year on year. Canada’s overall manufacturing sales were up 7.3% year on year from October 2010.

($1 = C$1.04, €0.77)

Read Paul Hodges’ Chemicals and the Economy Blog

By: Stefan Baumgarten
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