The
Monthly Survey of Manufacturing, published by Statistics Canada on Monday, showed
that the Canadian manufacturing sales fell 3.0 percent m-o-m in September to CAD58.46
billion, following an unrevised 0.5 percent m-o-m gain in August. This marked
the largest monthly decrease in manufacturing sales since April 2020.
Economists
had anticipated a drop of 3.2 percent m-o-m for September.
According
to the survey, 12 of 21 industries recorded declines in sales in September, with
motor vehicles (-35.6 percent m-o-m) dropping the most, hurt by the semiconductor
chip shortage. At the same time, the biggest gains occurred in sales of petroleum
and coal products (+3.0 percent m-o-m).
Overall,
sales of non-durable goods increased 3.2 percent m-o-m in August, while sales
of durable goods declined 2.1 percent m-o-m.
In
y-o-y terms, manufacturing sales climbed 8.4 percent in September.