Uncategorized Economy
Statistics Canada says higher prices helped manufacturing sales edge up in January

OTTAWA — Statistics Canada says manufacturing sales rose 0.6 per cent to $64.8 billion in January, as higher prices helped boost sales in the petroleum and coal sector to a record high and lift wood product sales higher.

The agency petroleum and coal product sales rose 6.8 per cent to a record $7.9 billion in January as higher prices for refined petroleum products helped drive the growth. Sales of petroleum and coal product in constant dollars fell 1.3 per cent.

Meanwhile, sales of wood products rose 6.5 per cent to $4.1 billion in January, helped by higher prices. Sales in constant dollars were unchanged.

Sales of motor vehicles dropped 17.5 per cent to $3.0 billion in January as several auto assembly plants saw production shutdowns in January due to supply chain disruptions and semiconductor shortages.

Motor vehicle parts sales fell 7.1 per cent to $2.3 billion.

The agency says overall sales in constant dollars fell 1.8 per cent in January, indicating the growth was a result of rising prices.

News from © Canadian Press Enterprises Inc., 2021