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- Canada’s manufacturing sales rise less than forecast in May
Canada’s manufacturing sales rise less than forecast in May
Statistics
Canada released its Monthly Survey of Manufacturing on Wednesday, which showed
that the Canadian manufacturing sales climbed 1.6 percent m-o-m in May to CAD58.91
billion, following a revised 0.4 percent m-o-m decline in April (originally a
0.6 percent m-o-m drop).
Economists had
anticipated an advance of 2.0 percent m-o-m for May.
According to
the survey, sales increased in 12 of 21 industries, representing 66.2 percent
of total manufacturing sales. The transportation equipment industry (+8.1
percent m-o-m) posted the largest advance in May. Sales also increased in the
fabricated metal product (+3.1 percent m-o-m), chemical (+2.1 percent m-o-m), the
petroleum and coal product (+2.0 percent m-o-m) and machinery (+1.7 percent
m-o-m) industries. These gains, however, were partially offset by declines in
the food (-1.7 percent m-o-m), primary metal (-2.1 percent m-o-m) and printing
and related support activities (-5.6 percent m-o-m) industries.
Overall, sales
of durable goods rose 3.0 percent m-o-m in May, while sales of non-durable
goods edged up 0.1 percent m-o-m.
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