June manufacturing sales fell 1.2%: Statistics Canada
By CP STAFFEconomy General Manufacturing Economy manufacturing Petroleum
Could have been worse, economists on average had expected a drop of 1.7% for the month.
OTTAWA — Statistics Canada says manufacturing sales fell 1.2% to $58 billion in June, led lower by a drop in the petroleum and coal product and food industries.
Economists on average had expected a drop of 1.7% for the month, according to the financial markets data firm Refinitiv.
The move lower compared with a 1.6% increase in May.
Sales were down in 16 of 21 industries, representing 68 per cent of total manufacturing sales.
Sales in the petroleum and coal product industry fell 3.8% to $6.3 billion in June as refineries reported lower sales, due to lower prices. Food industry sales dropped 2.5% to $8.7 billion in June.
Manufacturing sales in volume terms fell 0.2% in June.