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Canadian manufacturing sales drop again in November

January 21, 2015

Canadian manufacturing sales drop again in November

OTTAWA (Reuters) – Canadian manufacturing sales decreased by 1.4 percent in November, the third decline in four months, driven by a sharp drop in motor vehicle sales, Statistics Canada reported on Tuesday.

The decline was greater than the 0.7 percent decrease that analysts surveyed by Reuters had anticipated. It represented the second monthly decline in a row, following a 1.1 percent decrease in sales in October. The agency also revised its October numbers down from a previously reported 0.6 percent decline.

Overall, sales declined in 16 of 21 industries in November, representing over 80 percent of the country’s total manufacturing. But the agency said total year-to-date sales were still 5.2 percent higher than in the first 11 months of 2013.

The federal statistical agency said the latest monthly drop was due to lower sales of motor vehicles, which dropped 5.9 percent. Chemical manufacturers saw a 3.6 percent decrease, while primary metals and food also fell.

The monthly drop for November was the biggest since a 3.5 percent decrease in August 2014. It was also the first time since March and April 2013 that Canadian manufacturing sales declined for two months in a row.

 

 

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