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UPDATE 1-Canada factory sales up 1.0 pct, end three-month falling streak

Published 2016-01-20, 08:38 a/m
© Reuters. UPDATE 1-Canada factory sales up 1.0 pct, end three-month falling streak

(Adds details of release, background)
OTTAWA, Jan 20 (Reuters) - Canadian manufacturing sales
increased by a greater-than-expected 1.0 percent in November,
breaking a three-month falling streak, Statistics Canada data
indicated on Wednesday.
Analysts polled by Reuters had forecast sales would increase
by 0.5 percent from October.
The healthy figures contrast with a string of recent gloomy
data which, together with plunging oil prices, has put pressure
on the Bank of Canada to cut interest rates. Its latest
announcement is due later on Wednesday.
November's growth in manufacturing sales was largely fueled
by a 3.8 percent rise in motor vehicle sales, which benefited
from a decision by automakers to focus on higher value models.
Sales were 18.0 percent higher than in November 2014. The
motor vehicle industry's share of the total manufacturing sector
in November was 10.9 percent, the highest since the 11.3 percent
seen in March 2007.
Petroleum and coal product sales declined by 0.9 percent
while primary metals dropped by 1.2 percent. Unfilled orders
fell 0.3 percent while new orders jumped by 3.5 percent.

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