(Recasts lead, adds details)
By Gilbert Le Gras
OTTAWA, Nov 14 (Reuters) - Shipments from Canada's factories surged 5.2 percent in September on the highest rise in orders in the past year, marking a recovery from the August power blackout and auguring well for future growth, Statistics Canada said on Friday.
"This marked the third increase in the last four months for new orders, a possible good omen for future prospects. Widespread increases were reported, including motor vehicles, computers and aerospace manufacturing," Statscan said, noting that new orders rose 8.0 percent.
The rise in shipments was at the top end of expectations which predicted, on average, a rise of 3.0 percent. Statscan said C$43.01 billion-worth ($33.12 billion) of goods were shipped in September, the highest level since March.
Inventories, the factory stockpiles that Bank of Canada executives have singled out in speeches in the past month, fell 0.7 percent and to their lowest level since April 2000, to a value of C$60.9 billion, Statscan said.
Stocks of goods in factory warehouses were down 4.7 percent from April's recent high of C$63.89 billion, it added.
All three stages of manufacturing showed inventories had been drawn down with stocks of raw materials down 1.1 percent, goods-in-process dipped 0.7 percent and finished products edged down 0.2 percent.
The Canadian dollar's 18 percent rise against the U.S. dollar so far this year, however, may be a "key obstacle to further advances in demand from the United States" and could hinder further reductions in inventories.
The Canadian dollar eased to 76.91 U.S. cents shortly after the report from 76.99 U.S. cents before the data was made public.
Unfilled orders rose 1.1 percent in September, the first rise since August 2002. Notably, aerospace manufacturers eked out their first increase, albeit 0.4 percent, in unfilled orders since August 2001, Statscan said.
The bellwether inventory-to-shipment ratio narrowed to 1.42 from 1.50 -- its lowest level since October 2002. A lower ratio means manufacturers are clearing inventories of finished products faster than before due to higher demand.
($1=$1.30 Canadian)