Auto industry stalls as manufacturing sales fell one per cent to $49.9B in May
by The Canadian Press
Statistics Canada says the decline came as sales of motor vehicles and petroleum and coal products dropped
Manufacturing sales fell into decline as motor vehicle sales fell 4.2 per cent in May. The parts market also dropped 2.3 per cent. PHOTO: Honda
OTTAWA—Statistics Canada says manufacturing sales fell 1.0 per cent to $49.9 billion in May.
Economists had expected a drop of 0.7 per cent, according to Thomson Reuters.
The decline came as sales of motor vehicles and petroleum and coal products dropped.
Motor vehicle sales fell 4.2 per cent to $5.6 billion, while sales of motor vehicle parts declined 2.3 per cent.
Sales in the petroleum and coal products industry fell 2.2 per cent to $4.1 billion.
Sales fell in 15 of 21 industries, representing nearly 70 per cent of total manufacturing.
Constant dollar sales fell 2.1 per cent, indicating that a lower volume of manufactured goods was sold in the month.
