Manufacturing sales down 0.8 per cent in June as per latest Statistics Canada report
August 16, 2022 by The Canadian Press
Manufacturing sales fell 0.8 percent to $71.8 billion in June as the petroleum and coal product sector helped lead the way down, Statistics Canada said Monday.
The move lower came as sales fell in eight of the 21 industries tracked by the agency and followed a 1.1 percent drop in May.
Statistics Canada said sales in the petroleum and coal industry fell 7.8 percent in June as concerns over the global economic slowdown led to lower demand for energy products and contributed to the lower sales.
Wood product sales fell 7.2 percent in June, while aerospace products and parts dropped 16.8 percent. Meanwhile, sales of motor vehicles rose 13.8 percent.
Overall sales in constant dollars edged up 0.1 percent in June.
“Manufacturing sales volumes only inched up in June and, with the manufacturing surveys on both sides of the border weakening in recent months, the outlook is growing even more challenging,” said Stephen Brown, senior Canada economist at Capital Economics.
The report came a day ahead of the release of Statistics Canada’s consumer price index for July.
In a separate report Monday, Statistics Canada said wholesale sales rose 0.1 percent to $80.7 billion in June, boosted by the miscellaneous and motor vehicle and motor vehicle parts and accessories subsectors.
The agency said the miscellaneous goods sector rose for the fourth time in five months as it gained 3.5 percent, boosted by a 15.5 percent gain in the agricultural supplies industry, reflecting the demand for Canadian fertilizer because of the ongoing conflict in Ukraine.
Sales of motor vehicles and motor vehicle parts and accessories gained 3.1 percent due to higher sales in the motor vehicle industry, which added 5.3 percent.
Meanwhile, the personal and household goods subsector fell 3.5 percent as textile, clothing and footwear dropped 12.0 percent, pharmaceuticals and pharmacy supplies lost 2.5 percent and personal goods fell 6.1 percent.
Statistics Canada said wholesale sales in constant dollars fell 0.1 percent in June.