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20.08.2019 20:44

Canada’s manufacturing sales fall less than forecast in June

Statistics Canada released its Monthly Survey of Manufacturing on Tuesday, which showed that the Canadian manufacturing sales fell 1.2 percent m-o-m in June to CAD58.02 billion, following an unrevised 1.6 percent m-o-m increase in May.

Economists had anticipated a drop of 1.7 percent m-o-m for June.

According to the survey, sales dropped in 16 of 21 industries, representing 68 percent of total manufacturing sales. The petroleum and coal product (-3.8 percent m-o-m) and food (-2.5 percent m-o-m) industries accounted for most of the June drop. Sales also were lower in the machinery (-5.6 percent m-o-m), paper (-5.9 percent m-o-m) and chemical (-2.9 percent m-o-m) industries. On the contrary, the primary metal industry (+11.7 percent m-o-m) posted the largest gain.

Overall, sales of non-durable goods declined 3.3 percent m-o-m in June, while sales of durable goods rose 0.7 percent m-o-m.

For the second quarter, manufacturing sales grew 1.7 percent y-o-y. 


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