Image: Bank of CanadaClick image to enlargeThe Canadian dollar rose on Friday to 80.25 cents US following Statistics Canada reports that manufacturing sales has risen 1.7 per cent in December, higher than the expected 0.5 per cent reading economists had predicted.

 The showing was especially impressive given a 9.3 per cent drop in sales of petroleum and coal products. Excluding the petroleum and coal, manufacturing sales were up 3.2 per cent.

Commodities advanced with March crude up $1.57 to US$52.78 a barrel.

March copper was unchanged at US$2.60 a pound and April gold bullion advanced $6.40 to US$1,227.10 an ounce.

Market sentiment was also lifted Friday by solid economic news from Europe.

Official data show that the German economy grew by 0.7 per cent in the fourth-quarter compared with the previous three-month period, which was much better than the 0.3 per cent rise economists had expected. The figure reported by the Federal Statistical Office on Friday contrasted with an increase of only 0.1 per cent in the third quarter and a decline of 0.1 per cent in the second quarter.

Other data showed that overall economic output across the 18 eurozone countries was 0.3 per cent higher in the quarter. That equates with an annualized rate of around 1.2 per cent, which is still only about half the growth rate in the U.S.

The fourth-quarter performance was nevertheless higher than the 0.2 per cent increased anticipated by investors.

There was also optimism that Greece will come to an agreement with its eurozone creditors.

Greek Prime Minister Alexis Tsipras has agreed to allow government officials to start technical discussions with debt inspectors. The results will inform a meeting of the eurozone's finance ministers Monday.

Tsipras says a "mutually acceptable" deal is possible while German Chancellor Angela Merkel says her country is ready to compromise.

The Canadian Press, Feb 13, 2015

US machine shop breaks Hurco machine purchase record

A US machine shop has broken the Hurco USA record for the largest single purhase of Hurco CNC machines in the company's history, recently purchasing two five axis mills and three trunnion style five axis mills, bringing the number of Hurco machines in the shop to 21.

Automotive rebound: Canada, US, bounce back

Despite recent concerns about an economic slowdown, car sales continue to climb according to Scotiabank’s Global Auto Report.

Emuge names national accounts manager

Emuge Corp. has appointed Scott Lowe as national accounts manager for Canada and the U.S.

GM caps off a huge year for Canadian auto investment

General Motors has added to a landmark year for Canada’s automotive sector by committing to a CAN$1 billion investment to manufacture an electric delivery van at its struggling CAMI manufacturing facility in Windsor Ont.

Near-record growth for MAG: US $1.6 B in 2011

In the ongoing good-news story about the manufacturing sector, MAG's global results indicate that the resurgence isn't just a North American one. MAG IAS (MAG Americas) and MAG Europe reports near-record growth in bookings and sales in 2011 and year-end bookings are expected to reach close to US $1.6 billion for the combined companies.

Advanced manufacturing gets major financial boost

Ontario manufacturers will soon be getting support for advanced manufacturing practices through a newly announced Advanced Manufacturing Fund.

$49 M for Quebec car parts maker

Raufoss Canada, a subsidisary of Norwegian manufacturer Neuman Aluminum, is investing $49 million to retrofit and expand production at its Broisbriand, QC, plant.

Milwaukee Tool supports Canadian firefighters in Nepal

Milwaukee Tool, Toronto, is supporting Burnaby Firefighters Local 323, who were among the first responders supporting the rescue efforts in Nepal following a devastating earthquake that hit the area in April.

Learning at breakfast

BIG Kaiser's most recent Breakfast and Learn sessions attracted more than 250 manufacturers. Held at the company's Chicago area facility in Hoffman Estates, IL, the sessions, which ran May 17, 18 and 19, were an opportunity to learn and network.

Bugatti develops components using additive manufacturing

Metal additive manufacturing technology is accelerating industrial development in the automotive sector, as shown by the repeated success of the Bugatti sports car brand in achieving consistent function integration and significant performance optimization of components.

GM Oshawa plant reopens

GM Canada has announced the first Chevrolet Silverado pickup truck has rolled off the line at its reopened assembly plant in Oshawa, ON.

Italian machine tools see modest increase

The Italian machine tool industry saw a modest rise in exports of machine tools, but domestic demand remained flat in the fourth quarter of 2013, according to the latest figures from the Italian machine tool association, UCIMU.

Federal government invests $16 M in Tenaris

The federal Ministry of Innovation, Science and Economic Development has announced a $16 million investment to help Tenaris upgrade mills in Ontario and Alberta.

New wind turbine manufacturing plant in BC

Endurance Wind Power Inc., Surrey, BC, has opened a new 40,000 sq ft facility to manufacture wind turbines.

Stay In Touch

twitter facebook linkedIn