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January Canada Manufacturing Sales Hit by Lower Petroleum

Posted March 18, 2015

Under Economic Issues, International Trade Issues

(Reuters)

Canadian manufacturing sales tumbled more than expected in January, driven down by a drop in sales of petroleum and coal products amid sharply lower prices, Statistics Canada said on Tuesday.

Factory sales fell 1.7% to C$51.4 billion ($40.2 billion), the biggest decline since August and surpassing economists' forecasts for a decline of 1.2%. December's sales were revised down to 1.6% from 1.7%.

The volume of sales fell 1%. Sales were down in 14 out of 21 industries, accounting for just under half of all manufacturing. Click here to read more.