FXstreet.com (Barcelona) - Canadian manufacturing sector is starting to feel the heat of the global economic slowdown; manufacturing shipments fell well below expectations, while new orders plummeted in November, according to data released by Statistics Canada.
Manufacturing sales fell 6.4% in November, to C$48.4 billion, the lowest level since December 2004. In constant Dollars, manufacturing sales have dropped 3.0% in November, to the lowest level in the last ten years.
Inventories have declined 0.6% in November to C$68.3 billion, while the inventory to sales ratio increased to 1.41, the largest ratio since 2002 and the highest one-month increase since June 1998.
New orders have plummeted 12.9% falling to C$49.0 billion in November, below the C$50 billion for the first time since April 2008.