RTTNews - Canadian manufacturing sales increased 1.9% to $39.7 billion in June, helped by strong sales in the aerospace industry, according to data released Friday by Statistics Canada. The rise in sales partially reverses the 4.9% decline posted in May.
Strong sales in the aerospace industry and a rise in the price of petroleum and coal products largely explain the increase. Excluding both industries, Canada's manufacturing sales would have decreased 0.5%.
Constant dollar manufacturing sales rose 1.1% in June, indicating that greater sales volumes were responsible for more than half of the increase in sales.
Sales were up in 12 of 21 manufacturing industries in June, representing 68% of total sales.
Production in the aerospace industry increased 61.0% to $1.6 billion, partially reversing a 44.5% decline in May. The aerospace industry has been extremely volatile over the past several months. Excluding the aerospace industry, total Canadian manufacturing sales increased 0.4%.
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