Manufacturing sales dipped 1.1 per cent in October, says Statistics Canada
by The Canadian Press
Machinery, aerospace parts, oil and coal led the decrease, which was double analysts' forecasts
OTTAWA—Manufacturing sales fell 1.1 per cent to $50.4 billion in October, the third consecutive decrease according to Statistics Canada.
Economists had expected a drop of 0.5 per cent, according to Thomson Reuters.
In constant dollar terms, Canadian manufacturing sales were down 1.0 per cent.
The drop was due to lower sales of petroleum and coal products, aerospace products and parts and machinery industries.
Sales were down 5.7 per cent to $4.5 billion in the petroleum and coal product industry, due in part to maintenance work at some refineries that began in September.
The aerospace product and parts industry fell 10.3 per cent to $1.6 billion, while machinery sales fell 4.6 per cent in October to $2.8 billion.
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