Canadian manufacturing sales hit record high in July: StatsCan
Canada's manufacturing sector posted record sales for July, according to Statistics Canada, exceeding the previous record of $53.2 billion set in July 2008.
Canada’s manufacturing sector posted record sales for July, according to Statistics Canada, exceeding the previous record of $53.2 billion set in July 2008.
Statistics Canada said the July gain was mainly due to higher sales in the transportation equipment and primary metals industries. Transportation equipment sales rose 10.3% to $10.1 billion in July, while primary metal sales rose 4.0% to $4.2 billion.
Economists had expected a gain of one per cent, according to Thomson Reuters news agency.
“In the motor vehicle sub-industry, sales increased 11.6% to $5.1 billion,” StatsCan said. “Historically, most automotive plants have shutdowns in July. However, this year, several plants reported shorter or no shutdowns during July, which accounted for the stronger than normal month.”
July sales were up 16 of 21 industries in, representing about 56% of the country’s manufacturing. Five industries reported lower sales, StatsCan said, with food manufacturing reporting the largest decrease, down 1.4% to $7.9 billion.
While eight provinces posted higher sales in July, the bulk of the gain was in Ontario, StatsCan said. “Sales in Ontario rose 4.2% to $25.0 billion in July.” The second largest gain for July was in Manitoba, where manufacturing sales rose 15.4% to $1.5 billion. “Most of the gain reflected an increase in the transportation equipment and primary metal industries,” StatsCan said. In Alberta, meanwhile, sales declined 0.8% to $6.9 billion. “This was the second decline in seven months,” StatsCan said. “Decreases in the petroleum and coal product and food industries were largely responsible for the provincial decline.”