Market news
15.03.2021, 13:19

Canada manufacturing shipments rose more than expected in January

According to the report from the Statistics Canada, manufacturing sales rose 3.1% to $56.2 billion in January, following a 1.3% gain in December. Economists had expected a 2.5% increase. Sales were up in 16 of 21 industries, driven mainly by the wood product, computer and electronic product, and primary metal industries. Motor vehicle manufacturing posted the largest decline. In constant dollars, manufacturing sales were up 1.1%, indicating a higher volume of goods sold in January. Sales of wood products rose 9.1% to $4.1 billion in January, driven by higher prices and sales volumes. Prices for lumber and other wood products increased for the ninth time in 12 months, rising 10.8% in January.

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