Manufacturing sales hit new record in January: StatsCan
Higher sales of motor vehicles, motor vehicle parts led the way.
Canadian manufacturing sales rose 2.3 per cent in January to $53.1 billion, a new record.
According to new figures from Statistics Canada, the increase came due to higher sales of motor vehicles and motor vehicle parts.
“Motor vehicle sales increased 9.6% in January to $6.6 billion, the highest level since November 2000,” the agency said. “This was the largest increase in the industry since March 2015. The gains in the motor vehicle industry were the result of two key factors: changes in the industry toward higher-end models and the lower value of the Canadian dollar.”
The motor vehicle parts industry recorded a 4.0 per cent increase in sales to $2.7 billion, StatsCan said. “This was the fifth consecutive increase in motor vehicle parts sales, which reached their highest level since December 2006,” it noted. “Gains in the industry were widespread as parts manufacturers capitalized on increased demand from motor vehicle assembly plants.”
Sales of petroleum and coal products fell 5.9 per cent.
Sales rose in 16 of 21 industries, StatsCan said, representing more than 80 per cent of the manufacturing sector.
Eight provinces recorded higher sales in January, led by Ontario and Quebec. The only provinces to report lower sales were Alberta and Nova Scotia.