Canadian manufacturing sales drop in February

Thursday, 16 April 2015 01:57:27 (GMT+3)   |   San Diego
       

According Statistics Canada, manufacturing sales declined 1.7 percent to $50.0 billion in February, the fourth decrease in five months. The drop reflected lower sales of motor vehicles and reduced production of aerospace products and parts. Monthly manufacturing sales have fallen 6.8 percent since their most recent high of $53.7 billion in July 2014.

Sales data for January that was originally estimated as a 1.7 percent decline was revised to a 3.0 percent decline with this release, as a result of new information provided to Statistics Canada by respondents. Larger than usual revisions were also made to goods in process and unfilled orders data.

Sales of motor vehicles fell 14.9 percent to $4.2 billion, the lowest level since December 2012. Closures for retooling at assembly plants in Ontario were largely responsible for the low sales level. Sales in February were more than $1 billion lower than in December when motor vehicle sales reached their 2014 high.


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