Canadian manufacturing sales show turnaround
by investor on 16/08/09 at 12:57 pm
Statistics Canada says manufacturing sales rose 1.9 per cent to $39.7-billion in June, partially reversing a 4.9-per-cent decline posted in May.
The agency attributes the increase to strong sales in the aerospace industry and a rise in the price of petroleum and coal products.
Constant dollar manufacturing sales rose 1.1 per cent in June, indicating that greater sales volumes were responsible for more than half of the increase in sales.
Sales rose in 12 of 21 manufacturing industries in June, representing 68 per cent of total sales.
Strength in the aerospace and petroleum industries was partly offset by lower auto sales.
Aerospace sales jumped 61.0 per cent to $1.6-billion, offsetting a 44.5-per-cent decline in May.
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