Manufacturing sales climb to new record in January, up 2.3 per cent
Industry led by auto and food segments, beating analyst expectations, Statistics Canada said
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OTTAWA—Statistics Canada says manufacturing sales rose 2.3 per cent in January to $53.1 billion, a new record.
The result topped the 0.5 per cent gain that had been expected by economists, according to Thomson Reuters.
The increase came due to higher sales of motor vehicles, food and motor vehicle parts.
Sales of petroleum and coal products fell 5.9 per cent.
Sales rose in 16 of 21 industries, representing more than 80 per cent of the manufacturing sector.
Eight provinces recorded higher sales in January, led by Ontario and Quebec.
The only provinces to report lower sales were Alberta and Nova Scotia.