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- Canada’s manufacturing sales unexpectedly fall in February
Canada’s manufacturing sales unexpectedly fall in February
Statistics Canada released its Monthly Survey of Manufacturing on Tuesday, which showed that the Canadian manufacturing sales fell 0.2 percent m-o-m in February to CAD56.64 billion, following a revised 0.8 percent m-o-m increase in January (originally a 1.0 percent m-o-m gain).
Economists had anticipated flat m-o-m performance for February.
According to the survey, sales declined in 15 of 21 industries, representing 65.9 percent of total manufacturing sales. The largest drops were in the motor vehicle assembly (-4.4 percent m-o-m) and wood products (-5.9 percent m-o-m) industries. However, these decreases were largely offset by gains in the petroleum and coal product (+7.1 percent m-o-m, paper (+6.8 percent m-o-m) and machinery (+3.3 percent m-o-m) industries.
Overall, sales of durable goods fell 1.4 percent m-o-m in February, while sales of non-durable goods rose 1.2 percent m-o-m.
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