Statistics Canada released its Monthly Survey of Manufacturing, which showed that the Canadian manufacturing sales fell 1.3 percent m-o-m in December to CAD56.38 billion, following a revised 1.7 percent m-o-m drop in November (originally a 1.4 percent m-o-m decline). 

Economists had anticipated an increase of 0.2 percent m-o-m for December. 

According to the survey, sales dropped in 12 of 21 industries led by declines in the petroleum and coal product industry (-10.4 percent m-o-m) and food manufacturing (-2.3 percent m-o-m). However, these decreases were partially offset by gains in the primary metal (+3.0 percent m-o-m), aerospace product and parts (+4.2 percent m-o-m) and non-metallic mineral product (+6.1 percent m-o-m) industries.

Overall, sales of durable goods rose 0.6 percent m-o-m in December, while sales of non-durable goods tumbled 3.4 percent m-o-m.