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Canadian Manufacturing Sales Rose 1.7% in December

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Manufacturing sales rose 1.7% in December, despite a 9.3% drop in sales of petroleum and coal products. Excluding the petroleum and coal product industry, manufacturing sales were up 3.2%. The gain reflected higher sales in the transportation equipment industry, in part, due to seasonal movements in the motor vehicle and motor vehicle parts sub-industries. Sales also rose in the machinery industry.

Overall, sales were higher in 17 of 21 industries, representing nearly 80% of total Canadian manufacturing.

Constant dollar sales were up 2.9%, indicating that a higher volume of products was sold over the course of the month. The larger increase in constant dollar sales versus current dollar sales reflects a sharp drop in prices for refined petroleum products.

via StatCan

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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

@alfonso_forex

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