Statistics Canada reports manufacturing sales fell 1.2 per cent in June
August 20, 2019 by The Canadian Press
August 20, 2019 – Statistics Canada says manufacturing sales fell 1.2 per cent to $58 billion in June, led lower by a drop in the petroleum and coal product and food industries.
Economists on average had expected a drop of 1.7 per cent for the month, according to the financial markets data firm Refinitiv.
The move lower compared with a 1.6 per cent increase in May.
Sales were down in 16 of 21 industries, representing 68 per cent of total manufacturing sales.
Sales in the petroleum and coal product industry fell 3.8 per cent to $6.3 billion in June as refineries reported lower sales, due to lower prices. Food industry sales dropped 2.5 per cent to $8.7 billion in June.
Manufacturing sales in volume terms fell 0.2 per cent in June.