Manufacturing Sales See An Increase

Following a 1.2 per cent decline in July, manufacturing sales increased 0.5 per cent to $60.3 billion in August, says Statistics Canada. Although sales of petroleum and coal (up 7.3 per cent), chemicals (up 6.3 per cent), and primary metals (up 3.3 per cent) saw an increase, sales of wood product (down 17.1 per cent), motor vehicles (down 8.7 per cent), and motor vehicle parts (down 10.5 per cent) decreased. Overall, total sales went up 14.9 per cent year-over-year. Additionally, sales in constant dollars increased 0.6 per cent in August, the industrial product price index decreased 0.3 per cent month-over-month, and the raw materials price index decreased 2.4 per cent, the first decline since September 2020. Manufacturing sales were led by Quebec (up 2.6 per cent) and Ontario (up 0.4 per cent), while British Columbia (down 4.1 per cent) showed the greatest decline.