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January Canada Manufacturing Sales Hit by Lower Petroleum

Posted March 18, 2015

Under Economic Issues, International Trade Issues


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.