Investing.com – Canadian manufacturing sales fell more-than-expected in October, after rising in each of the three previous months, official data showed on Wednesday.
In a report, Statistics Canada said that manufacturing sales declined by a seasonally adjusted 0.8% in October, after climbing by 2.6% in the preceding month.
Economists had expected Canadian manufacturing sales to fall by 0.6% in October.
Despite the decline, October's sales were the second highest of any month in 2011, surpassed only by September. Manufacturing sales in October totaled CAD48.7 billion.
The decrease in October largely reflected lower sales in the petroleum and coal product, and the aerospace product and parts industries.
Following the release of the data, the Canadian dollar remained lower against its U.S. counterpart, with USD/CAD gaining 0.28% to hit 1.0367.
In a report, Statistics Canada said that manufacturing sales declined by a seasonally adjusted 0.8% in October, after climbing by 2.6% in the preceding month.
Economists had expected Canadian manufacturing sales to fall by 0.6% in October.
Despite the decline, October's sales were the second highest of any month in 2011, surpassed only by September. Manufacturing sales in October totaled CAD48.7 billion.
The decrease in October largely reflected lower sales in the petroleum and coal product, and the aerospace product and parts industries.
Following the release of the data, the Canadian dollar remained lower against its U.S. counterpart, with USD/CAD gaining 0.28% to hit 1.0367.