Canadian Manufacturing Sales Fall 1 Percent in May

July 15, 2016 Share Print 0

Statistics Canada says manufacturing sales fell 1.0 per cent to $49.9 billion in May.

Economists had expected a drop of 0.7 per cent, according to Thomson Reuters.

The decline came as sales of motor vehicles and petroleum and coal products dropped.

Motor vehicle sales fell 4.2 per cent to $5.6 billion, while sales of motor vehicle parts declined 2.3 per cent.

Sales in the petroleum and coal products industry fell 2.2 per cent to $4.1 billion.

Sales fell in 15 of 21 industries, representing nearly 70 per cent of total manufacturing.

Constant dollar sales fell 2.1 per cent, indicating that a lower volume of manufactured goods was sold in the month.

via 570News

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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.