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- Canada’s manufacturing sales increase more than expected in January
Canada’s manufacturing sales increase more than expected in January
Statistics Canada
released its Monthly Survey of Manufacturing, which showed that the Canadian
manufacturing sales rose 1.0 percent m-o-m in January 2019 to CAD57.05 billion,
following an unrevised 1.3 percent m-o-m drop in December 2018.
Economists had
anticipated an increase of 0.4 percent m-o-m for January.
According to the
survey, sales rose in 15 of 21 industries, representing 55.9 percent of total
manufacturing sales. Higher sales in the food (+2.8 percent m-o-m) as well as
the electrical equipment, appliance and component industries (+13.0 percent
m-o-m) were the main contributors to the January advance. Partially offsetting
these increases were a decline in production in the aerospace product and parts
industry (-12.4 percent m-o-m) and lower sales in the paper manufacturing
industry (-2.7 percent m-o-m).
Overall, sales of
durable goods surged 1.1 percent m-o-m in January, while sales of non-durable
goods rose 0.8 percent m-o-m.
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