Canada: Manufacturing sales rose 1.1% to $58.1 billion in June

Eren Sengezer FXStreet

"Manufacturing sales rose 1.1% to $58.1 billion in June, following a 1.5% increase in May," Statistics Canada announced on Thursday.

Key takeaways

Sales of petroleum and coal products increased 15.9% in June.
Several major refineries ramped up production levels following temporary shutdowns and spring maintenance that began in April and continued into May.
Total manufacturing inventories increased 0.5% to $82.1 billion in June.
The capacity utilization rate for the manufacturing sector rose from 82.8% in May to 83.5% in June.
New orders decreased 1.8% in June following a 5.2% increase in May.

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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