Tags: Canada | factory | sales | auto

Canada Factory Sales Reach 15-Month High in September on Autos

Friday, 15 Nov 2013 09:01 AM

Canadian factory sales rose to the highest in more than a year in September as automakers introduced new models and grain mills resumed production after maintenance shutdowns.

Sales rose 0.6 percent to C$49.9 billion ($47.7 billion), the highest since June 2012, Statistics Canada said in Ottawa. Economists forecast a 0.5 percent increase, according to the median in a Bloomberg survey with 15 responses.

While production is 1 percent above year-earlier levels, it remains 1.3 percent below the post-recession peak set at the end of 2011, with demand hobbled by an inconsistent global recovery. The Bank of Canada has said that business investment and exports remain weak in an economy led by consumer spending, as companies wait for clearer signs of expansion abroad.

Motor vehicle assembly rose 5.4 percent to C$4.70 billion in September, and auto parts sales increased 2.5 percent to C$1.96 billion. Food manufacturing rose 2.6 percent to C$7.46 billion, the fastest since December, led by grain and oilseed mills that re-opened after shutdowns.

Sales rose in 11 of 21 categories tracked by Statistics Canada, accounting for 55 percent of production.

Excluding price changes, a better indicator of the industry’s contribution to economic growth, factory sales rose 1 percent in September.

Inventories fell 0.9 percent to C$68.2 billion, with the ratio of factory stockpiles to sales falling to 1.37 from 1.39.

New factory orders fell 2.6 percent to C$48.3 billion in September. Unfilled orders fell 2.2 percent to C$71.9 billion, as a stronger U.S. dollar pared the value of aerospace orders recorded in local currency, Statistics Canada said.

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
Markets
Canadian factory sales rose to the highest in more than a year in September as automakers introduced new models and grain mills resumed production after maintenance shutdowns.
Canada,factory,sales,auto
259
2013-01-15
Friday, 15 Nov 2013 09:01 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved