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Canada Factory Sales Plunge in August

Posted October 16, 2014

Under Economic Issues, International Trade Issues

(Paul Vieira – WSJ)

Manufacturing Shipments Fell 3.3% on Weaker Demand for Vehicles, Auto Parts

Canadian manufacturing shipments plunged in August, reversing gains recorded in the previous two months and offering another warning sign economic growth has stalled.

Factory sales fell 3.3% to 52.05 billion Canadian dollars ($46.23 billion) in August from July, Statistics Canada said Thursday. Market expectations were for a 2% decline, according to economists at Royal Bank of Canada.

Roughly half of the drop, the biggest in more than five years and the first this year, was attributed to weaker demand for vehicles and auto parts. Read more here.