Canadian Manufacturing

Manufacturing sales posted record gain in June: StatsCan

The increase was led by the motor vehicle and motor vehicle parts industries

August 14, 2020  The Canadian Press

OTTAWA — Statistics Canada reports manufacturing sales climbed a record 20.7% in June to $48.7 billion as production returned following widespread shutdowns earlier in the year.

The increase was led by the motor vehicle and motor vehicle parts industries and followed growth of 11.6% in May.

Economists on average had expected an increase of 16.4% for June, according to financial markets data firm Refinitiv.

Sales in the transportation equipment industry more than doubled to $8.8 billion in June as most factories in the automotive sector returned to full production following shutdowns earlier in the pandemic.

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Sales in the petroleum and coal product industry also rose by 31.5% to $3.3 billion in June due to higher prices and volumes as refineries ramped up production.

Despite the gains, total manufacturing sales in June were 13.2% below their pre-pandemic level in February.