Statistics Canada says manufacturing sales posted record gain in June

1

OTTAWA — Statistics Canada reports manufacturing sales climbed a record 20.7 percent in June to $48.7 billion as production returned following widespread shutdowns earlier in the year.

The increase was led by the motor vehicle and motor vehicle parts industries and followed growth of 11.6 percent in May.

Economists on average had expected an increase of 16.4 percent for June, according to financial markets data firm Refinitiv.

Sales in the transportation equipment industry more than doubled to $8.8 billion in June as most factories in the automotive sector returned to full production following shutdowns earlier in the pandemic.

Sales in the petroleum and coal product industry also rose by 31.5 percent to $3.3 billion in June due to higher prices and volumes as refineries ramped up production.

Despite the gains, total manufacturing sales in June were 13.2 percent below their pre-pandemic level in February.

1 COMMENT

  1. Bet ya anyone that also worked thru the province shut down aside from health worker didnt get the extra 4 bucks. I know my employer didn’t. Yet wee were deamed essential. 🤔

Comments are closed.