Ekonomické zprávy

Canada’s manufacturing sales increase less than forecast in January

The Monthly Survey of Manufacturing, released by Statistics Canada on Thursday, showed that Canadian manufacturing sales increased 0.2 per cent m-o-m in January 2024 to CAD72.13 billion, following a downwardly revised 1.1 per cent m-o-m fall (from -0.7 per cent m-o-m) in December 2023. 

Economists had forecast a gain of 0.4 per cent m-o-m for January.

According to the survey, 11 of 21 industries posted increases in sales in January, led by apparel manufacturing (+13.0 per cent m-o-m), miscellaneous manufacturing (+10.0 per cent m-o-m), transportation equipment (+4.3 per cent m-o-m) and chemical (+3.5 per cent m-o-m) subsectors. On the contrary, the leather and allied product (-8.4 per cent m-o-m), furniture and related product (-8.2 per cent m-o-m), and fabricated metal product (-5.8 per cent m-o-m) industries logged the biggest declines.

Overall, sales of non-durable goods climbed 0.8 per cent m-o-m in January, while sales of durable goods decreased 0.3 per cent m-o-m.

In y-o-y terms, manufacturing sales fell 4.3 per cent in January.

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