Notizie economiche
15.07.2024

Canada’s manufacturing sales rise slightly more than predicted in May

The Monthly Survey of Manufacturing, published by Statistics Canada on Monday, revealed that Canadian manufacturing sales rose by 0.4 per cent m-o-m in May to CAD71.45 billion, following an upwardly revised 1.4 per cent m-o-m gain (from +1.2per cent m-o-m) in April. 

Economists had predicted an increase of 0.3 per cent m-o-m for May.

According to the survey, 15 of 21 industries posted gains in sales in May, led by the textile mills (+20.8 per cent m-o-m), leather and allied product (+7.3 per cent m-o-m) and paper manufacturing (+5.5 per cent m-o-m) subsectors. On the contrary, the textile product mills (-9.3 per cent m-o-m), fabricated metal product (-2.9 per cent m-o-m), and beverage and tobacco product (-2.7 per cent m-o-m) industries recorded the biggest decreases.

Overall, sales of durable goods went up 0.5 per cent m-o-m in May, while sales of non-durable goods grew 0.3 per cent m-o-m.

Broken down by province/territory, manufacturing sales increased in 7 administrative divisions in May, with the biggest positive contribution coming from Quebec (+1.2 per cent m-o-m) and Ontario (+0.5 per cent m-o-m). Meanwhile, sales in Saskatchewan (-13.1 per cent m-o-m) and Prince Edward Island (-11.5 per cent m-o-m) demonstrated the largest declines.

In y-o-y terms, manufacturing sales plunged 1.8 per cent in May.

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