Statistics Canada released its Monthly Survey of Manufacturing on Tuesday, which showed that the Canadian manufacturing sales fell 0.7 percent m-o-m in October to CAD57.06 billion, following an unrevised 0.2 percent m-o-m decline in September.

Economists had anticipated a flat m-o-m performance for October.

According to the survey, sales decreased in 11 of 21 industries, representing 48.8 percent of total manufacturing sales. Lower sales in the transportation equipment (-3.1 percent m-o-m) and fabricated metal product (-8.2 percent m-o-m) industries were partly offset by higher sales in the petroleum and coal product industry (+6.2 percent m-o-m).

Overall, sales of non-durable goods rose 1.3 percent m-o-m in October, while sales of durable goods declined 2.4 percent m-o-m.