Statistics Canada says production sales strike record high in November
Canadian prolongation sales strike a record high in November, driven by sales of travel equipment, petroleum and spark products and a chemical industry, Statistics Canada pronounced Friday.
The organisation pronounced prolongation sales climbed 3.4 per cent to $55.5 billion.
However, TD Bank comparison economist James Marple wrote that “with November’s strength mostly reflecting a annulment of progressing prolongation interruptions, a trail brazen stays rather unclear.”
“Healthy pursuit gains, rising incomes, and a clever opinion south of a limit all bode good for manufacturers, though NAFTA doubt continues to hang over a outlook,” he said.
Talks to renegotiate a North American Free Trade Agreement are set to continue subsequent week in Montreal.
“President Trump has continued to speak tough, melancholy to lift out of a agreement,” Marple wrote.
The Bank of Canada has remarkable that businesses are apropos increasingly endangered about a unknowns of a ongoing NAFTA talks.
However, a executive bank still moved to lift a pivotal seductiveness rate aim this week amid other signs of strength in a economy.
Statistics Canada pronounced 12 of 21 industries, representing 81 per cent of a prolongation sector, gained belligerent in November. Manufacturing sales volumes rose 2.5 per cent for a month after aloft petroleum prices and other cost changes were removed.
Sales of travel apparatus increasing 9.1 per cent to $10.6 billion in November, following dual uninterrupted monthly decreases.
The miscarry reflected increasing prolongation after engine car public plant shutdowns in October. The engine car public organisation climbed 14.2 per cent, while a engine car tools attention combined 11.3 per cent.
The petroleum and spark product attention also gained 6.1 per cent to $6 billion, essentially due to aloft prices, while a chemical attention sales rose 5.9 per cent to $4.4 billion in November, after descending 2.7 per cent in a prior month.
Manufacturing sales were adult in 9 provinces in November.
Ontario climbed 5.8 per cent in Nov to $25.4 billion, while Quebec rose 1.2 per cent to $13.4 billion.
Manitoba was a usually range to tumble as sales slipped 1.0 per cent to $1.5 billion in November.
Article source: http://www.cbc.ca/news/business/manufacturing-canada-november-1.4494840?cmp=rss