Canada: Manufacturing sales decreased 2.6% to $52.5 billion in July

Eren Sengezer FXStreet

"Manufacturing sales decreased 2.6% to $52.5 billion in July, following a 1.9% decline in June," the Statistics Canada announced on Tuesday.

Key highlights:

The decrease was primarily the result of lower sales of motor vehicles and motor vehicle parts.
Excluding motor vehicles and motor vehicle parts, manufacturing sales increased 0.2%.
Sales were down in 9 of 21 industries, representing 57% of the manufacturing sector.
Sales of durable goods decreased 4.6%, while sales of non-durable goods declined 0.2%.
In constant dollars, sales were down 1.4% in July, indicating a decline in the volume of manufactured goods sold.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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