Mfg sales top expectations for November 2016

Jan. 19, 2017 – Statistics Canada says manufacturing sales climbed 1.5 per cent in November to $51.8 billion.

Economists had expected a gain of 1.0 per cent for the month, according to Thomson Reuters.

The move higher followed a drop in October which was revised to a move down of 0.6 per cent compared with an initial reading of a drop of 0.8 per cent.

In constant dollars, sales climbed 1.2 per cent, indicating a higher volume of manufactured goods was sold.

Sales were up in 14 of the 21 industries, boosted by the primary metal, petroleum and coal and chemical sectors.

The primary metal sector rose 9.1 per cent to $4.0 billion, while petroleum and coal product sales increased 3.7 per cent to $4.5 billion. The chemical manufacturing industry rose 3.4 per cent to $4.4 billion.

Statistics Canada says sales were up in every province except New Brunswick.

News from © Canadian Press Enterprises Inc. 2017