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Canadian Manufacturing Sales Fall 1% In January

By Alfonso EsparzaMarket OverviewMar 16, 2018 09:49
ca.investing.com/analysis/canadian-manufacturing-sales-fall-1-in-january-200196818
Canadian Manufacturing Sales Fall 1% In January
By Alfonso Esparza   |  Mar 16, 2018 09:49
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Manufacturing sales decreased 1.0% to $54.9 billion in January. Declines in the motor vehicles, the aerospace product and parts, as well as the primary metal industries were responsible for the overall drop.

Overall, sales were down in 14 of 21 industries, representing 56% of the Canadian manufacturing sector. Sales of durable goods declined 3.5% to $28.2 billion, while sales of non-durable goods increased 1.7% to $26.8 billion.

USD/CAD for March 16, 2018.
USD/CAD for March 16, 2018.

Sales of motor vehicles fell 8.0% to $4.9 billion, following two consecutive monthly increases. The decrease reflected mostly lower production because of atypical assembly plant shutdowns. In constant dollar terms, sales in the motor vehicle industry declined 7.5% in January, indicating that the decline in current dollars is mainly due to a reduction in volumes produced.

Production in the aerospace product and parts industry decreased 9.5% to $1.6 billion, following 4.4% increase in December. The January decline was partly due to the increase in the value of the Canadian dollar relative to the U.S. dollar. Sales and inventories are used to calculate production in the aerospace industry and most inventories in the industry are held in U.S. dollars.

Sales in the primary metal industry fell 2.8% to $4.1 billion, the second consecutive monthly decline. In constant dollars, sales in the primary metal industry were down 2.7%, indicating lower volumes of products were sold.

via StatsCan

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Canadian Manufacturing Sales Fall 1% In January
 

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Canadian Manufacturing Sales Fall 1% In January

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