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UPDATE 1-Canadian Sept factory sales take surprise tumble

Published 2015-11-16, 08:37 a/m
© Reuters. UPDATE 1-Canadian Sept factory sales take surprise tumble

(Adds details of past months, sectoral performance)
OTTAWA, Nov 16 (Reuters) - Canadian manufacturing sales fell
unexpectedly by 1.5 percent in September to the lowest level
since May, with August's sales also revised downwards, according
to Statistics Canada data released on Monday.
The decline in the volume of September's sales was even
worse, at 1.6 percent.
Analysts surveyed by Reuters had forecast a 0.1 percent rise
in overall sales. August's decline was revised to 0.6 percent
from the initially reported 0.2 percent. The combined effect was
to wipe out the 1.9 percent increase seen in July, revised from
1.7 percent. The figures are seasonally adjusted.
Statistics Canada blamed September's decline on lower motor
vehicle assembly and oil product sales. Motor vehicle assembly
sales fell 10.3 percent after four months of gains.
Sales in the oil and coal product sector, which mostly
constitute oil products, fell 7.1 percent, the fourth monthly
decline. This reflected temporary refinery shutdowns that were
more extensive than usual, as well as a 4.0 percent decline in
oil product prices.

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