- Canadian factory sales rose 0.7% in August
- Higher oil prices contributed to the increase in petroleum products sales
- Food sales reached the highest level on record
- Manufacturing sales on a volume basis dropped 0.7% in August
- Sales of petroleum and coal products increased for a second consecutive month
- Food sales were lifted by higher demand and prices for bakeries, tortilla products, and meat products
- Sales in the machinery sector rose to a record high
- Motor vehicle industry sales decreased by 1.5%
- Excluding motor vehicles, manufacturing sales were up 1.0%
- Inventory levels held by factories decreased by 0.1% in August
- Unfilled orders rose by 0.5% and new orders were up 2.8%
- The pace of economic activity in Canada has slowed down
Canadian factory sales rose 0.7% in August, driven by higher oil prices and increased food sales. Petroleum and coal products sales increased for a second consecutive month, while sales in the machinery sector reached a record high. However, the motor vehicle industry experienced a 1.5% decrease in sales. Manufacturing sales on a volume basis dropped 0.7% in August. Inventory levels held by factories decreased slightly, while unfilled orders and new orders saw modest increases. Overall, the pace of economic activity in Canada has slowed down in recent months.
