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- Canada’s manufacturing sales increase in line with expectations in June
Canada’s manufacturing sales increase in line with expectations in June
Statistics
Canada released its Monthly Survey of Manufacturing, which showed that the
Canadian manufacturing sales rose 2.1 percent m-o-m in June to CAD59.23
billion, following a revised 0.3 percent m-o-m drop in May (originally a 0.6
percent m-o-m decrease).
Economists
had anticipated a jump of 2.1 percent m-o-m for June.
According
to the survey, sales increased in 13 of 21 industries, with most of the gain
attributable to higher sales of motor vehicles (+25.6 percent m-o-m) and petroleum
and coal products (+5.2 percent m-o-m). Meanwhile, wood product sales (-5.7
percent m-o-m) were the major drag.
Overall,
sales of durable goods climbed 2.8 percent m-o-m in June, while sales of
non-durable goods went up 1.5 percent m-o-m.
In
y-o-y terms, manufacturing sales surged 20.0 percent in June.
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