Statistics Canada says August was the fourth consecutive month manufacturing sales declined
Manufacturing sales fell 2.0 per cent to $70.4-billion in August as petroleum and coal sales edged down on lower prices and volumes, Statistics Canada said Friday.The decline came as petroleum and coal sales fell 3.9 per cent to $9.9-billion in August and chemical manufacturing industry sales decreased 4.5 per cent to $5.6-billion.
Paul Ashworth, chief North America economist at Capital Economics, said the weak global backdrop is a concern. “Closer to home, the weakness in U.S. housing construction and consumer discretionary goods demand will also weigh on Canadian manufacturing. In short, brace yourselves for more disappointment.”
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Statistics Canada says manufacturing sales down, wholesale sales up in AugustThis marked the fourth consecutive month manufacturing sales had declined
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