Manufacturing sales dipped in August
by The Canadian Press
The drop—which was led by oil, coal, auto and aerospace—was less than economists predicted
OTTAWA—Statistics Canada says manufacturing sales fell 0.2 per cent to $52.1 billion in August following three consecutive monthly increases.
Economists had expected a drop of one per cent, according to Thomson Reuters.
The decrease was due to a drop in the petroleum and coal industry as well as the auto parts and aerospace product and parts industries.
Gains were made in motor vehicle assembly and wood products.
Overall, sales were down were down in eight of 21 main industries tracked, representing approximately half of the sector.
Sales declined in five provinces in August including lower results in Quebec, Alberta and New Brunswick, offset in large part by gains in Ontario.
