Auto makers drove Canadian manufacturing sales higher in November: StatsCan
Factory sales rose 1 per cent November, after a drop of 1.3 per cent in October and 1.4 per cent in September.
Canadian manufacturing sales rose in November for the first time in four months, as car makers led a rebound in factory shipments.
According to Statistics Canada, factory sales rose 1 per cent on the month, after a drop of 1.3 per cent in October and 1.4 per cent in September. The numbers reflect a surge in the value of car shipments, due in part to the benefits of the lower Canadian dollar and a shift in production to higher priced vehicles, StatsCan said.
Car sales rose 3.8 per cent in November, boosting the industry’s share of total factory sales to the highest since March 2007.
Car sales in November were 18 per cent higher than a year ago, the statistics agency said. Excluding auto sales, manufacturing shipments rose 0.6 per cent in November.
The production of petroleum and coal products extended declines with a 0.9 per cent drop during the month, bringing sales down 28 per cent from a year ago.
StatsCan also reported a 1.8 per cent gain in wholesale sales in Canada in November, also driven by gains in motor vehicle sales. It was the first gain in five months.