Canada Factory Sales Estimated Down 1.5% in August
By Robb M. Stewart
OTTAWA--An advance estimate points to a retreat in Canadian factory trade in August, led by a fall in sales of petroleum and coal products as well as primary metals.
An early estimate of manufacturing-sector sales indicates a drop of 1.5% last month, Statistics Canada said Tuesday.
The estimate was based on a weighted response rate to Statistics Canada's survey of roughly 68%. The official survey results, based on more complete data, are scheduled to be released Oct. 16.
Manufacturing sales rebounded in July, rising 1.4% from the month before to a seasonally adjusted 70.97 billion Canadian dollars, the equivalent of about US$52.41 billion, the data agency reported earlier this month. The increase was driven by higher petroleum sales with a rise in prices and demand, as well as a jump in pharmaceutical and medicine sales.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
September 24, 2024 08:51 ET (12:51 GMT)
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