Newspaper article The Canadian Press

Statistics Canada Says Manufacturing Sales Fall 2.6 per Cent in July

Newspaper article The Canadian Press

Statistics Canada Says Manufacturing Sales Fall 2.6 per Cent in July

Article excerpt

Manufacturing sales fall 2.6 per cent in July

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OTTAWA - Canadian factory sales fell for a second consecutive month in July, Statistics Canada said Tuesday due in large part to a drop in the auto sector.

Manufacturing sales fell 2.6 per cent to $52.5 billion in July following a 1.9 per cent drop in June.

Sales were down 1.4 per cent in July on a constant basis.

"The second month of declines in both value and volumes suggests that momentum may be fading somewhat at Canadian factories," TD Bank senior economist Brian DePratto wrote in a report.

"To be sure, with a shift in the shutdown schedule at auto plants contributing significantly to the pullback, a rebound may be in store next month as these assembly lines come back to life. But with the forward-looking indicators down again in July, rebound expectations should be tempered. …

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