Manufacturing sales hit record high in July
September 16, 2014 by The Canadian Press
Statistics Canada says manufacturing sales rose 2.5 per cent to $53.7 billion in July, exceeding the previous record of $53.2 billion set in July 2008.
The agency says the July gain was mainly due to higher sales in the transportation equipment and primary metals industries.
Economists had expected a gain of one per cent, according to Thomson Reuters.
Statistics Canada says manufacturing sales have been trending upwards since January. July sales were up in 16 of 21 industries, representing about 56 per cent of the country’s manufacturing.
Transportation equipment sales rose 10.3 per cent to $10.1 billion in July, while primary metal sales rose four per cent to $4.2 billion.
In July, five industries reported lower sales, with food manufacturing reporting the largest decrease, down 1.4 per cent to $7.9 billion.