Business

Statistics Canada reports manufacturing sales up 0.8% in August

Statistics Canada says manufacturing sales rose 0.8 per cent to $57.6 billion in August, following two consecutive monthly declines, boosted by gains in the transportation equipment and fabricated metal industries

Monthly sales rose to $57.6 billion, a bigger increase than economists expected

Fabricator Mike Caldarino uses a grinder on a steel stairs being manufactured for export at George Third & Son Steel Fabricators and Erectors, in Burnaby, B.C., on March 29, 2018. Statistics Canada says manufacturing sales rose 0.8% to $57.6 billion in August, boosted by gains in the transportation equipment and fabricated metal industries. (Darryl Dyck/The Canadian Press)

Statistics Canada says manufacturing sales rose 0.8 per cent to $57.6 billion in August, following two consecutive monthly declines, boosted by gains in the transportation equipment and fabricated metal industries.

Economists on average had expected a gain of 0.6 per cent, according to financial markets data firm Refinitiv.

Statistics Canada says sales were up in 11 of 21 industries representing 62.9 per cent of the total manufacturing sector.

The transportation equipment industry saw sales rise 2.8 per cent in August, while sales of fabricated metal products climbed 3.6 per cent.

Sales of petroleum and coal products fell 1.7 per cent due to lower average prices, maintenance issues at a major petroleum refinery in Quebec, and lower sales in B.C.

In constant dollars, manufacturing sales increased 0.6 per cent in August, indicating a higher volumes of goods sold.