- Canada’s manufacturing sales rise more than forecast in August
Market news
Canada’s manufacturing sales rise more than forecast in August
Statistics
Canada released its Monthly Survey of Manufacturing on Thursday, which showed
that the Canadian manufacturing sales rose 0.8 percent m-o-m in August to
CAD57.58 billion, following an unrevised 1.3 percent m-o-m decrease in July.
Economists had
anticipated a gain of 0.6 percent m-o-m for August.
According to
the survey, sales increased in 11 of 21 industries, representing 62.9 percent
of total manufacturing sales. The transportation equipment (+2.8 percent m-o-m)
and fabricated metal (+3.6 percent m-o-m) industries were mainly responsible
for the advance in August. At the same time, the petroleum and coal product
industry posted the largest drop (+1.7 percent m-o-m).
Overall, sales
of non-durable goods edged down 0.1 percent m-o-m in August, while sales of
durable goods rose 1.6 percent m-o-m.
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