Manufacturing sales in Canada slumped 2 percent over a month earlier to CAD 52.4 billion in August of 2020, following an upwardly revised 7.2 percent rise in July and compared with market expectations of a 1.4 percent fall. It was the first decline in manufacturing sales after three consecutive months of strong increases, led by the transportation equipment industry, on lower sales of motor vehicle parts (-16.8 percent). Although several car assembly plants shortened or skipped their annual maintenance shutdowns to build up inventories in July, sales in August were weaker coming off a stronger than usual July. Also, sales fell sharply for plastics and rubber industries (-9.6 percent). In contrast, sales surged for wood products (12.3 percent), mainly due to higher exports of lumber (16.5 percent), particularly to the US; and miscellaneous products (12 percent) on higher sales of silver and gold. Manufacturing sales were 6.6 percent below February's pre-pandemic levels.
Manufacturing Sales in Canada averaged 0.30 percent from 1981 until 2020, reaching an all time high of 23.40 percent in June of 2020 and a record low of -28.30 percent in April of 2020. This page provides - Canada Manufacturing Sales MoM- actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Manufacturing Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Statistics Canada
Manufacturing Sales in Canada is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Sales in Canada to stand at 2.50 in 12 months time. In the long-term, the Canada Manufacturing Sales MoM is projected to trend around 1.50 percent in 2021 and 2.00 percent in 2022, according to our econometric models.