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October 27, 2020
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Statistics Canada says manufacturing sales fell 2.0 per cent in August

OTTAWA — Statistics Canada says manufacturing sales fell 2.0 per cent to $52.4 billion in August, weighed down by a drop in the transportation sector.

The decline followed three consecutive months of strong increases, the agency said.

Economists on average had expected a decline of 1.4 per cent for the month, according to financial data firm Refinitiv.

Sales in the transportation equipment industry fell 13.7 per cent to $9.6 billion as Canadian exports of motor vehicles and auto parts fell in August.

Excluding transportation equipment, manufacturing sales rose 1.1 per cent.

In constant dollar terms, manufacturing sales fell 2.2 per cent, indicating a smaller volume of products was sold in August.

Statistics Canada said total manufacturing sales in August were 6.6 per cent below the pre-pandemic levels set in February.

This report by The Canadian Press was first published Oct. 16, 2020

Click Here to Visit Orignal Source of Article https://www.ctvnews.ca/business/statistics-canada-says-manufacturing-sales-fell-2-0-per-cent-in-august-1.5147932

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