Canada: Manufacturing sales increased for third consecutive month, up 1.1% to $54.6 billion in May
"Manufacturing sales increased for the third consecutive month, up 1.1% to $54.6 billion in May. The gain was mainly attributable to higher sales in the transportation equipment and chemical manufacturing industries," the Statistics Canada announced on Tuesday.
Key highlights:
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Sales were up in 16 of 21 industries, representing 71% of the manufacturing sector. Sales of durable goods rose 2.2%, while sales of non-durable goods declined 0.3%.
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In constant dollars, sales were up 1.1%, indicating that higher volumes of manufactured goods were sold in May.
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Manufacturing inventory levels edged down 0.2% to $73.7 billion in May, following five months of gains.
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Unfilled orders fell 1.5% to $89.1 billion in May, following three months of gains.
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.
