Notizie economiche
16.10.2024

Canada’s manufacturing sales decline less than expected in August

The Monthly Survey of Manufacturing, issued by Statistics Canada on Wednesday, showed that Canadian manufacturing sales declined by 1.3 per cent m-o-m in August to CAD69.45 billion, following a downwardly revised 1.1 per cent m-o-m rise (from +1.4 per cent m-o-m) in July. 

Economists had forecast a drop of 1.5 per cent m-o-m for August.

According to the survey, 12 of 21 industries registered decreases in sales in August, led by the leather and allied product (-47.3 per cent m-o-m), primary metal (-6.4 per cent m-o-m), textile product mills (-5.9 per cent m-o-m), furniture and related product (-4.2 per cent m-o-m), petroleum and coal product (-3.7 per cent m-o-m) and electrical equipment, appliance and component (-3.7 per cent m-o-m) subsectors. On the contrary, the apparel manufacturing (+4.2 per cent m-o-m), wood product (+3.8 per cent m-o-m), and non-metallic mineral product (+3.4 per cent m-o-m) industries recorded the biggest gains.

Overall, sales of durable goods fell 1.5 per cent m-o-m in August, while sales of non-durable goods dropped 1.1 per cent m-o-m.

Broken down by province/territory, manufacturing sales reduced in 8 administrative divisions in August, with the biggest negative contribution coming from Alberta (-3.3 per cent m-o-m) and Ontario (-0.6 per cent m-o-m). Meanwhile, sales in Prince Edward Island (+2.3 per cent m-o-m) increased the most.

In y-o-y terms, manufacturing sales plummeted by 4.4 per cent in August. 

Guarda anche