Tuesday, June 22, 2004

Factory shipments up again

Soaring gas prices and the loonie notwithstanding, shipments from Canada’s factories rose for the fifth consecutive month in April, the longest streak since the late 1990s.

Shipments hit $48.5 billion, up 0.5% from March. In addition, the outlook for the coming months remains bright as strong demand from abroad has boosted the backlog of unfilled orders.

Unfilled orders for April were up a solid 6.6% since the close of 2003. In addition, new orders rose for the fifth consecutive month in April.

On a year-to-date basis, shipments for the first four months of the year are up 3.1% compared with the same period in 2003. Much of the strength has come from the big-ticket, durable goods sector.

Shipments of durable goods rose 1.1% in April, the third consecutive increase.

Strong demand for wood products

Year-to-date, durable goods shipments are up 4.7%, driven by gains in aerospace and computer manufacturing, combined with strong demand and soaring prices for wood products and primary metals.

Two-thirds of the 21 manufacturing industries, representing 82% of total shipments, posted increases in April. Quebec led the six provinces and territories reporting higher shipments.

Shipments of wood products hit a record high of $3.1 billion in April, up 4.3%, thanks to the booming housing market and soaring prices. Lumber prices, which rose 2.3% in April alone, have jumped 14% in the first four months of the year.

In addition, aerospace manufacturers chalked up their fourth gain in production in the last five months, a positive sign for the beleaguered industry.

For more information, contact Russell Kowaluk (613-951-0600), Manufacturing, Construction and Energy Division.

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© 2004, Statistics Canada.