Statistics Canada says manufacturing sales hit record high in November


Canadian creating sales hit a record high in November, driven by sales of transportation appurtenances, petroleum and coal products and the chemical industry, Statistics Canada mean Friday.

The agency said manufacturing sales climbed 3.4 per cent to $55.5 billion.

No matter how, TD Bank senior economist James Marple wrote that “with November’s intrepidity largely reflecting a reversal of earlier production interruptions, the path mail remains somewhat unclear.”

“Healthy job gains, rising incomes, and a robust outlook south of the border all bode well for manufacturers, but NAFTA uncertainty persists to hang over the outlook,” he said.

Talks to renegotiate the North American Enfranchise Trade Agreement are set to continue next week in Montreal.

“President Trump has extended to talk tough, threatening to pull out of the agreement,” Marple wrote.

The Bank of Canada has distinguished that businesses are becoming increasingly concerned about the unknowns of the developing NAFTA talks.

However, the central bank still moved to make coin money its key interest rate target this week amid other indications of strength in the economy.

Statistics Canada said 12 of 21 enterprises, representing 81 per cent of the manufacturing sector, gained ground in November. Putting out sales volumes rose 2.5 per cent for the month after rich petroleum prices and other price changes were removed.

Yard sales of transportation equipment increased 9.1 per cent to $10.6 billion in November, watch two consecutive monthly decreases.

The rebound reflected increased production after motor carrier assembly plant shutdowns in October. The motor vehicle assembly crowd climbed 14.2 per cent, while the motor vehicle parts dynamism added 11.3 per cent.

The petroleum and coal product industry also increased 6.1 per cent to $6 billion, primarily due to higher prices, while the chemical diligence sales rose 5.9 per cent to $4.4 billion in November, after drop off 2.7 per cent in the previous month.

Manufacturing sales were up in nine countries in November.

Ontario climbed 5.8 per cent in November to $25.4 billion, while Quebec be tempted by 1.2 per cent to $13.4 billion.

Manitoba was the only province to lacking as sales slipped 1.0 per cent to $1.5 billion in November.

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