Statistics Canada has reported a positive increase in manufacturing sales for the month of July, with a rise of 1.4% to $71 billion. This marks the third consecutive month of growth in the manufacturing sector, following a 2.5% increase in June and a 1.6% increase in May.
The increase in sales was driven by higher sales in the transportation equipment and chemical industries. The transportation equipment industry saw a 4.2% increase in sales, while the chemical industry saw a 3.2% increase. These two industries combined accounted for over half of the total increase in manufacturing sales for July.
In addition, sales were up in 12 of the 21 industries tracked by Statistics Canada, representing 66.7% of the total manufacturing sector. The primary metal industry also saw a notable increase of 2.8%, while the food industry saw a 1.2% increase.
On a regional level, six provinces reported higher sales in July, with Ontario leading the way with a 2.1% increase. This was followed by Quebec with a 1.2% increase and Alberta with a 1.1% increase. However, sales in British Columbia and Saskatchewan saw a decline of 1.2% and 1.1%, respectively.
The positive growth in manufacturing sales is a promising sign for the Canadian economy, as the sector has been hit hard by the COVID-19 pandemic. The increase in sales can be attributed to the gradual reopening of businesses and the easing of restrictions across the country.
Despite the overall increase in sales, the manufacturing sector is still facing challenges such as supply chain disruptions and labor shortages. However, with the continued recovery of the economy, it is expected that the manufacturing sector will continue to see growth in the coming months.
In conclusion, the latest report from Statistics Canada shows a 1.4% increase in manufacturing sales for the month of July, with the transportation equipment and chemical industries leading the way. This is a positive sign for the Canadian economy and reflects the gradual recovery of the manufacturing sector.
