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Canadian manufacturing sales drop in October

Canadian manufacturing sales fell 0.4% on a monthly basis in October as lower sales of motor vehicle and other transportation equipment pulled down the sector, Statistics Canada reported.

Sales fell to a seasonally adjusted C$53.49 billion in October from C$53.70 billion in the previous month, with eight of 21 industries, representing 56.0% of the manufacturing sector, reporting lower figures. Year over year, sales were up 4.3%.

Motor vehicle sales dropped 6.7% month over month in October following shutdowns of some assembly plants that resulted in lower production. Sales of other transportation equipment plunged 37.2%.

Excluding motor vehicles and other transportation equipment, overall manufacturing sales were 0.5% higher, according to Statistics Canada.

Manufacturing sales fell in six Canadian provinces, led by Ontario, where sales decreased 2.2% month over month due to lower sales in the motor vehicle, machinery and food industries.

Inventory levels rose 1.6% to C$74.77 billion in October from September, with 16 of 21 industries recording higher stocks. Transportation equipment, primary metals and machinery posted the biggest gains.

New orders increased 5.3% on a monthly basis to C$55.54 billion in October as new orders of aerospace product and parts, primary metals and fabricated metal products went up.