Statistics Canada released manufacturing shipments on Wednesday. Canadian manufacturing shipments rose 1.7% in July, beating forecasts of a 1.0% increase, after a 1.5% gain in June. June's figure was revised up from a 1.2% rise.

The rise was partly driven by higher sales of motor vehicle parts and motor vehicles. Sales of motor vehicle parts jumped 12.1% in July, while sales in the motor vehicle assembly industry increased 5.6%.

Inventories rose 1.1% in July.

Sales increased in 12 of 21 categories.