By Ketki Saxena
Investing.com – Statistics Canada reported this morning that domestic manufacturing sales fell for the third consecutive month in a row in July, declining 0.9% to $71.6 billion.
Sales were lower in 12 of 21 industries, with the declines driven by led by the primary metals (-9.9%), petroleum and coal products (-5.3%), and furniture and related products (-11.2%) industries.
The decline in metal sales were partly as a result of unplanned interruptions at certain major primary metal manufacturers. Primary metals were also affected by worries of a global slowdown and rising rates leading to a downturn in economic activity and hence lowered demand for the metals.
Despite the monthly decline, primary metal sales were still 4.7% higher year over year in July.
The decline in coal petroleum and coal product sales was largely a result of lower prices for the commodities, even as sales volumes rose by 5.9%
Despite the monthly decline, petroleum and coal product sales were 68.6% higher compared with the same month a year earlier.
Falling sales in furniture and related products represented a moderation from record-highs in June. Year over year, sales of furniture and related products increased 22.1%.
Meanwhile, motor vehicle parts (+10.7%), and paper products (+8.1%) were the industries that saw the greatest increase in total sales.