January manufacturing results beat expectations, says Statistics Canada
Sales were up in 14 of 21 represented manufacturing industries; petroleum and coal led the way, climbing 7 per cent to $5.5 billion, while chemicals gained 2.5 per cent to $4.5 billion
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OTTAWA—Statistics Canada says manufacturing sales in January surpassed expectations, climbing 0.6 per cent to $53.8 billion, helped by the petroleum and coal and chemical industries.
It was the third consecutive month of growth.
Economists had expected a decline of 0.2 per cent for January, according to Thomson Reuters.
Statistics Canada says sales were up in 14 of 21 industries, representing 75.4 per cent of the manufacturing sector.
The petroleum and coal products industry climbed 7.0 per cent to $5.5 billion, while the chemical manufacturing industry gained 2.5 per cent to $4.5 billion.
Overall sales in constant dollars gained 0.7 per cent, suggesting a higher volume of goods sold.