Statistics Canada released manufacturing shipments on Tuesday. Canadian manufacturing shipments rose 1.2% in December, beating expectations for a 0.7% increase, after a 1.2% increase in November. November's figure was revised up from a 1.0% rise.

The increase was mainly driven by higher motor vehicle and wood products sales. Motor vehicle rose 3.6% in December, while sales of wood products climbed 5.5%.

Inventories decreased 1.6% in December, driven by drops in in aerospace products and parts, petroleum and coal.

In 2015 as whole, manufacturing shipments fell 1.5%. It was the first annual decline since 2009.