Manufacturing sales gain 1.1% in May: StatsCan
Sales up in 16 of 21 industries, representing 71% of the manufacturing sector.
OTTAWA — Canadian manufacturing sales came in better than expected for May as they increased 1.1% to $54.6 billion in May.
Statistics Canada says it was the third consecutive month to see an increase as gains were led by the transportation equipment and chemical manufacturing industries.
Economists had expected a gain of 0.8% for the month, according to Thomson Reuters.
Sales were up in 16 of 21 industries, representing 71% of the manufacturing sector.
The transportation equipment industry saw sales rise 4.2% to $11.5 billion boosted by the motor vehicle and the motor vehicle parts industries. Chemical manufacturing sales climbed 2.4% to $4.4 billion.
In constant dollars, overall sales were up 1.1%, indicating that higher volumes of manufactured goods were sold in May.News from © Canadian Press Enterprises Inc. 2016