Newspaper article The Canadian Press

Statistics Canada Says Manufacturing Sales Hit New Record in January, Up 2.3%

Newspaper article The Canadian Press

Statistics Canada Says Manufacturing Sales Hit New Record in January, Up 2.3%

Article excerpt

Canadian manufacturing sales hit new record

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OTTAWA - Canada's manufacturing sector surged ahead in January to a new sales record, raising hopes economic growth will be better than expected to start the year.

Statistics Canada said Wednesday manufacturing sales rose 2.3 per cent in January to $53.1 billion, boosted by higher sales of motor vehicles, food and motor vehicle parts.

The result topped the 0.5 per cent gain that had been expected by economists, according to Thomson Reuters.

TD Bank economist Warren Kirkland called it a strong report, noting that excluding petroleum and coal products, manufacturing sales rose 3.1 per cent, month over month.

"We remain optimistic that much of these gains will be sustained in coming months as the past declines in the loonie and robust U.S. domestic demand continues to support Canadian shipments," Kirkland said in a note to clients.

"We expect that most of the upside remains to be seen across Ontario, Quebec and B. …

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