Manufacturing sales are expected to have risen 0.8 per cent in December, driven in part by higher sales in the fabricated metal products and motor vehicle industries, according to an advance estimate released by Statistics Canada this morning.
Statistics Canada is providing advance estimates of manufacturing sales to stay on top of the rapidly evolving economic situation, impacted by slowdowns brought on by Covid-19 protocols, supply chain issues and human resource shortages.
If December’s estimate is close to the mark, it would mean Canadian manufacturing closed out 2021 with three straight months of sales growth. Canadian manufacturing sales rose 2.6 per cent in November to $63.1 billion on higher sales in 18 of 21 industries, according to the Monthly Survey of Manufacturing from Statistics Canada.
Sales in constant dollars increased 1.9% in November, indicating a higher volume of goods sold.
The surge was led by strong performances by the durable goods and transportation equipment sectors. The fabricated metal products sector also grew, albeit at a slower rate.
The estimate for December was calculated based on a weighted response rate of 56.6 per cent. The average final response rate for the survey over the previous 12 months has been 94.1 per cent.
As Statistics Canada continues to collect data for the December reference month, this early indicator could be revised when the final report for month is released on February 16.