• Canada’s manufacturing sales increase in line with economists’ forecast in September

Market news

16 November 2020

Canada’s manufacturing sales increase in line with economists’ forecast in September

Statistics Canada released its Monthly Survey of Manufacturing on Monday, which showed that the Canadian manufacturing sales rose 1.5 percent m-o-m in September to CAD53.80 billion, following a revised 1.4 percent m-o-m drop in August (originally a 2.0 percent m-o-m decline).

Economists had forecast a 1.5 percent m-o-m advance for August.

According to the survey, sales increased in 13 of 21 manufacturing industries led by the wood (+9.6 percent m-o-m), chemical (+6.7 percent m-o-m) and food (+1.3 percent m-o-m) industries.

Overall, sales of durable goods industries went up 1.2 percent m-o-m in September, while sales of non-durable goods industries jumped 1.9 percent m-o-m.

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