Investing.com - Financial Markets Worldwide
⚫ Final hours! Save up to 50% OFF InvestingProCLAIM SALE

UPDATE 1-Canadian factory sales fall less than expected in Aug

Published 2015-10-16, 08:38 a/m
© Reuters. UPDATE 1-Canadian factory sales fall less than expected in Aug

OTTAWA, Oct 16 (Reuters) - Canadian manufacturing sales
decreased far less than expected in August after three
consecutive months of gains, weighed by lower sales of petroleum
and coal products, data from Statistics Canada showed on Friday.
Factory sales fell 0.2 percent, not as steep as the 1.0
percent decline economists had forecast. Sales were down in
eight out of the 21 main industries, accounting for about half
the sector. In volume terms, sales fell by 0.1 percent.
Sales declined for a third consecutive month in the
petroleum and coal product sector, falling 5.2 percent as both
prices and the volume of products sold declined.
The steep drop in the price of oil, a major export for
Canada, put the country in a mild recession in the first half of
the year but economists and policymakers expect growth picked
back up in the second half of 2015.
The decline in factory sales in August was tempered by a 6.7
percent increase in sales in the motor vehicle assembly industry
after maintenance shutdowns in July.
New orders tumbled 5.6 percent due to declines in the
aerospace product and parts sector, while overall inventories
rose 0.5 percent.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.