Cananda October manufacturing sales 2.1% vs 1.3% expected

December 13, 2024 at 01:30PM

Prior was 1.3%

Manufacturing sales rose 2.1% to C$70.8B in October, rebounding from two straight monthly declines

In volume terms: Sales up 1.4%

Year-over-year: Down 0.2%

Petroleum and coal products led gains, surging 15.9%

Transportation equipment sales increased 3.7%

Motor vehicle sales hit highest level since April 2024

Paper sales dropped 3.5%, biggest decline among sectors

Other details:

Inventory-to-sales ratio improved to 1.69 from 1.72

Capacity utilization rate rose to 80.5% from 78.6%

Unfilled orders edged down 0.2% to C$104.6B

A solid rebound in Canadian manufacturing, driven mainly by petroleum products and autos. But the year-over-year decline suggests some underlying weakness remains.

This article was written by Adam Button at www.forexlive.com.

Cananda October manufacturing sales 2.1% vs 1.3% expected