Canadian Manufacturing Sales Drop 0.2 percent in January

Manufacturing sales edged down 0.2% in January to $48.0 billion, the fourth decline in five months. Sales in January were down in the transportation equipment industry as well as the petroleum and coal product industry. Overall, 7 of 21 industries posted lower sales in January, representing approximately 52% of the manufacturing sector.

Durable goods sales declined 0.7% to $24.1 billion, while non-durable goods sales rose 0.3% to $23.9 billion.

Constant dollar sales fell 0.4% in January, indicating that the decline in manufactured goods sold was a result of lower volumes.

Unfilled orders increased 5.8% to $69.0 billion in January, the highest level since November 2008 ($69.3 billion). The gain stemmed almost entirely from higher unfilled orders in the aerospace product and parts industry. Unfilled orders are a stock of orders that will contribute to future sales assuming that they are not cancelled.

To view the full release visit the Statistics Canada page

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza