Canada’s manufacturing sales drop 3.6pc in February
ISTANBUL - Canada’s manufacturing sales dropped 3.6% to $71.5 billion in February, according to figures released Friday by Statistics Canada. The figure came below the market expectations of a 2.7% decrease, while manufacturing sales rose 4.5% in January. There were declines in 12 of the 21 manufacturing industries, led by the petroleum and coal products that fell 14.9% to $8.8 billion in February, marking the third-largest monthly decline on record. They were followed by motor vehicles with a 12.3% decrease, ending three consecutive monthly increases. “The monthly decline resulted from lower volumes and prices as sales in real terms decreased 2.4% in February and the Industrial Product Price Index edged down 0.8%,” Statistics Canada said in a statement. The Nation, 16 Apr, 2023
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