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Canada manufacturing sales rebounded more than expected in August


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Canada manufacturing sales rebounded more than expected in August

Seasonally adjusted manufacturing sales in Canada ended a two-month decline in August, rising 0.8% month over month to C$57.58 billion, Statistics Canada reported.

The consensus estimate of economists polled by Econoday was for a 0.65% monthly gain.

Sales in the transportation equipment industry climbed 2.8% month over month to C$11.49 billion in August, and sales of fabricated metal products rose 3.6% to C$3.53 billion.

Other industries that recorded higher sales in August included plastics and rubber products and food manufacturing, which saw gains of 2.8% and 0.5%, respectively.

Sales of petroleum and coal products fell 1.7%, marking their third consecutive monthly decline. Sales of machinery went down 1.6% and sales of furniture and related products dropped 2.8%.