Manufacturing sales in Canada declined 1.4% in November, the third decrease in four months according to the government statistics gathering agency, Statistics Canada in a report released Tuesday (January 20). Sales declined in 16 of 21 industries, representing more than 80% of total Canadian manufacturing,
The decline reflected lower sales in motor vehicles, chemicals, primary metals and food.
“The report is pretty bad,” Jimmy Jean, senior economist at Desjardins Capital Markets told the Wall Street Journal. “It illustrates how shaky this assumption of a manufacturing recovery was from the very beginning.”
However, the Journal points out; “Economists have suggested that growing U.S. demand and a weaker Canadian currency will provide a boost to Canada’s factory sector.”
More information:
Statistics Canada – Monthly Survey of Manufacturing, November 2014 – here
Wall Street Journal – Canada November Factory Sales Decline 1.4% – here
Toronto Star – Canada’s manufacturing sales fall further than economists expected – here
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