16 March 2012 14:50 [Source: ICIS news]
Ottawa-based Statistics Canada said that compared with January 2011, Canadian chemical sales were up by 3.4% year on year.
Canadian sales of plastics and rubber products fell by 3.4% in January from December, to C$2.04bn. Compared with January 2011, sales of plastics and rubber products were up by 12.4% year on year.
Overall Canadian manufacturing sales declined by 0.9% to C$49.6bn in January from December, marking their second decrease in seven months.
The decrease partly reflected a drop in production in the aerospace product and parts industry.
Lower sales in the primary metals, machinery and other transportation equipment industries also contributed to the overall decline.
However, excluding the aerospace industry, sales were virtually unchanged from December, the agency said.
Industry observers have repeatedly said that Canadian manufacturing sales are suffering from the relatively strong Canadian dollar against the US dollar.
Compared with January 2011, overall manufacturing sales were up by 5.0% year on year.
Inventories rose by 1.1% to C$65.3bn in January from December – the 15th increase in 16 months. Inventories were up in 19 of the 21 industries tracked by Statistics Canada.
The inventory-to-sales ratio rose to 1.32 in January, from 1.29 in December. The ratio is a measure of the time, in months, that would be required to exhaust inventories if sales were to remain at their current level.
($1 = C$1.01)
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