Statistics Canada released manufacturing shipments on Wednesday. Canadian manufacturing shipments dropped 1.7% in February, missing forecasts of a 1.2% increase, after a 3.0% decrease in January.

January's figure was revised down from a 1.7% decline.

The decline was driven by a drop in the production of aerospace products and parts and lower sales of motor vehicles. Sales of motor vehicles slid 15.0% in February, while sales of aerospace products dropped 26%.

Sales of petroleum products rose 5.7% in February, while sales of chemical products climbed 8.2%.

Sales declined in 10 of 21 categories.