The Monthly
Survey of Manufacturing, issued by Statistics Canada on Monday, revealed that
Canadian manufacturing sales climbed by 1.4 per cent m-o-m in July to CAD70.97
billion, following an upwardly revised 1.7 per cent m-o-m drop (from -2.1 per
cent m-o-m) in June. This marked the largest monthly gain in manufacturing
sales since April (+1.4 per cent m-o-m).
Economists
had forecast an increase of 1.1 per cent m-o-m for July.
According to
the survey, 13 of 21 industries demonstrated increases in sales in July, led by
the leather and allied product (+74.9 per cent m-o-m), petroleum and coal
product (+6.7 per cent m-o-m), textile product mills (+5.7 per cent m-o-m) and chemical
(+5.3 per cent m-o-m) subsectors. On the contrary, the wood product (-4.8 per
cent m-o-m) and non-metallic mineral product (-4.1 per cent m-o-m) industries showed
the biggest declines.
Overall, sales
of non-durable goods surged 2.7 per cent m-o-m in July, while sales of durable
goods edged up 0.5 per cent m-o-m.
Broken down by
province/territory, manufacturing sales improved in 7 administrative divisions
in July, with the biggest positive contribution coming from Saskatchewan (+28.0
per cent m-o-m) and Quebec (+1.9 per cent m-o-m). Meanwhile, sales in Ontario (-6.0
per cent m-o-m) posted the largest drop.
In y-o-y terms,
manufacturing sales decreased 1.1 per cent in July.