Canada’s manufacturing sales fell -1.3% mom to CAD 69.4B in August, better than expectation of -1.5% mom decline, but marked the lowest level since January 2022.
The decline was mainly driven by lower sales in the primary metal (-6.4%) and petroleum and coal product (-3.7%) subsectors. Meanwhile, production of aerospace products and parts (+7.3%) and sales of wood products (+3.8%) increased the most.
With the decrease in August, monthly sales were down -4.4% on a year-over-year basis.
