Statistics Canada released its Monthly Survey of Manufacturing, which showed that the Canadian manufacturing sales rose 2.1 percent m-o-m in June to CAD59.23 billion, following a revised 0.3 percent m-o-m drop in May (originally a 0.6 percent m-o-m decrease).

Economists had anticipated a jump of 2.1 percent m-o-m for June.

According to the survey, sales increased in 13 of 21 industries, with most of the gain attributable to higher sales of motor vehicles (+25.6 percent m-o-m) and petroleum and coal products (+5.2 percent m-o-m). Meanwhile, wood product sales (-5.7 percent m-o-m) were the major drag.

Overall, sales of durable goods climbed 2.8 percent m-o-m in June, while sales of non-durable goods went up 1.5 percent m-o-m.

In y-o-y terms, manufacturing sales surged 20.0 percent in June.