Sunday, October 17

The Coal & Oil Sector Boosted Manufacturing Sales By 0.5% In August: Statistics Canada | The Canadian News

Statistics Canada says manufacturing sales rose 0.5 percent to $ 60.3 billion in August, helped by gains in the oil and coal sector and increased sales of chemicals.

The overall increase followed a 1.2 percent decline in July.

The spike came as sales of petroleum and coal products rose 7.3 percent to $ 6.6 billion in August to hit their highest level since May 2019.

Chemicals sales rose 6.3 percent to a record $ 5.4 billion.

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Meanwhile, the ongoing shortage of semiconductor chips hit the motor vehicle sector, which saw sales drop 8.7 percent to $ 3 billion in August and sales of wood products fell 17.1 percent. to $ 3.3 billion, primarily due to lower softwood prices.

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Total manufacturing sales in constant dollar terms increased 0.6 percent in August, indicating higher sales volume.

© 2021 The Canadian Press



Reference-globalnews.ca

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