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Thursday, October 21, 2021

Coal and oil sector bump manufacturing sales by 0.5% in August: Statistics Canada


Statistics Canada says manufacturing sales rose 0.5 per cent to $60.3 billion in August, helped by gains in the petroleum and coal sector and higher chemical sales.

The overall increase followed a decline of 1.2 per cent in July.

The increase came as petroleum and coal product sales climbed 7.3 per cent to $6.6 billion in August to reach their highest level since May 2019.

Chemical sales rose 6.3 per cent to a record high of $5.4 billion.

Read more:
Ontario invests over $6-million in London-area businesses to create 134 jobs

Meanwhile, the ongoing shortage of semiconductor chips hurt the motor vehicle sector which saw sales fall 8.7 per cent to $3.0 billion in August and wood product sales dropped 17.1 per cent to $3.3 billion mostly due to lower softwood lumber prices.

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Overall manufacturing sales in constant dollar terms rose 0.6 per cent in August, indicating a higher sales volume.




© 2021 The Canadian Press






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