Photo: Larry MacDougal, The canadian Press
In the industry of products of petroleum and coal sales rose 10.3% to $ 5.5 billion — a third monthly increase in a result.
Ottawa — canadian manufacturing sales rose 0.5 % in September, fueled by the industry of petroleum products and coal, said on Thursday Statistics Canada.
Overall, manufacturers ‘ sales were $ 53.7 billion, and 7 of the 21 industries that are observed by the federal agency have gained ground. In constant dollars, total sales increased by 0.7 %, which means that higher volumes of manufactured goods were sold during the month.
“The results of the sales of the manufacturers, both those incurred in the cuff that those volumes have been surprisingly solid, even if some were worried about the possibility of a work stoppage in a factory in ontario may have had a negative impact on the side of auto sales, has observed Fotios Raptis, chief economist for the TD Bank, in a report. This report is in response to another which has shown a rebound in auto production in August. “
The figures released Thursday by Statistics Canada were better than expected by analysts. Their announcement comes at a time when most experts expect the economy to slow in the second half, after a first half of the year particularly strong. This good performance of the first half convinced the Bank of Canada to raise its key interest rate twice since July. The central bank has, however, chosen to leave it intact during his last decision in this matter, the last month, indicating that it expected a slowdown in growth.
The economist Nick Exarhos, of CIBC, noted that the earnings of manufacturers in September did not seem to rely on a broad base. “The results today were better than expected, but the narrow spectrum of the increase and the trend, always worrying, export volumes continue to suggest that there may be good reasons to worry about the future,” he wrote in a report.
Sales of non-durable goods rose 1.7% to $ 25.4 billion, while those of durable goods decreased 0.5 % to $ 28.4 billion. In the industry of products of petroleum and coal sales rose 10.3 % to $ 5.5 billion — the third consecutive monthly increase. The gains were based on both gains in the prices on those volumes.
Manufacturers ‘ sales rose in seven provinces in September. Manufacturers in Quebec and New Brunswick have seen their sales show the strongest growth, 1.7 % and 13.1 %, respectively. Sales in Ontario were down 0.9 %.