Statistics Canada released its Monthly Survey of Manufacturing, which showed that the Canadian manufacturing sales rose 1.0 percent m-o-m in January 2019 to CAD57.05 billion, following an unrevised 1.3 percent m-o-m drop in December 2018.

Economists had anticipated an increase of 0.4 percent m-o-m for January.

According to the survey, sales rose in 15 of 21 industries, representing 55.9 percent of total manufacturing sales. Higher sales in the food (+2.8 percent m-o-m) as well as the electrical equipment, appliance and component industries (+13.0 percent m-o-m) were the main contributors to the January advance. Partially offsetting these increases were a decline in production in the aerospace product and parts industry (-12.4 percent m-o-m) and lower sales in the paper manufacturing industry (-2.7 percent m-o-m).

Overall, sales of durable goods surged 1.1 percent m-o-m in January, while sales of non-durable goods rose 0.8 percent m-o-m.