Market news
17.10.2019, 13:51

Canada’s manufacturing sales rise more than forecast in August

Statistics Canada released its Monthly Survey of Manufacturing on Thursday, which showed that the Canadian manufacturing sales rose 0.8 percent m-o-m in August to CAD57.58 billion, following an unrevised 1.3 percent m-o-m decrease in July.

Economists had anticipated a gain of 0.6 percent m-o-m for August.

According to the survey, sales increased in 11 of 21 industries, representing 62.9 percent of total manufacturing sales. The transportation equipment (+2.8 percent m-o-m) and fabricated metal (+3.6 percent m-o-m) industries were mainly responsible for the advance in August. At the same time, the petroleum and coal product industry posted the largest drop (+1.7 percent m-o-m).

Overall, sales of non-durable goods edged down 0.1 percent m-o-m in August, while sales of durable goods rose 1.6 percent m-o-m.

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