🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

UPDATE 1-Canadian manufacturing sales drop on widespread weakness

Published 2016-12-15, 08:40 a/m
© Reuters.  UPDATE 1-Canadian manufacturing sales drop on widespread weakness

OTTAWA, Dec 15 (Reuters) - Canadian manufacturing sales unexpectedly fell by 0.8 percent in October from September on widespread weakness, indicating fourth-quarter growth could be sluggish, Statistics Canada data showed on Thursday.

Analysts polled by Reuters had expected sales to increase by 0.4 percent from September. The decline was the biggest since the 0.9 percent retreat in March 2016.

Sales fell in 15 of the 21 industries, representing 61 percent of the manufacturing sector. The volume of goods sold, a measure which strips out the effect of price changes and is closely watched by economists, plunged by 1.7 percent.

Primary metal sales sank by 2.4 percent while petroleum and coal products posted a 1.7 decline on lower volumes of product sold.

Canada's economy grew by 3.5 percent on an annualized basis in the third quarter after shrinking in the second quarter following a major wildfire in oil-producing Alberta. Economists expect fourth-quarter growth to be more modest.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Graphic - Canadian manufacturing sales

http://link.reuters.com/nem27s Graphic - Canada economic snapshot

http://tmsnrt.rs/2e8hNWV

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Latest comments

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.