OTTAWA: Canadian manufacturing sales jumped 3.4 percent in November, their biggest increase in 2-1/2 years, on strength in transportation equipment and petroleum and coal products, Statistics Canada said on Friday.
Sales set a record high of C$55.47 billion ($44.38 billion) on improved performances in 12 of 21 industries, representing 81 percent of the manufacturing sector. Volumes grew by 2.5 percent.
Analysts in a Reuters poll had forecast a 2.0 percent gain. The month-on-month jump was the biggest since the 3.4 percent advance in March 2015.
Sales of transportation equipment increased by 9.1 percent, largely reflecting increased shipments of motor vehicles and parts after assembly plants came back on stream after shutdowns in October. Higher prices pushed up the value of petroleum and coal products by 6.1 percent.
Weakness in the aerospace products and parts sector hit both new orders, which fell by 1.8 percent, and unfilled ones, which were down 0.9 percent.
Comments
Comments are closed for this article.