Canadian manufacturing sales were up 0.4% in September compared to the previous month and 3.3% on a year-over year basis. Total sales also rose 1.3% for the third quarter. PHOTO courtesy Hexagon.
Manufacturing sales rose 0.4% to $72.8 billion in September, on higher sales in 10 of 21 subsectors, according to Statistics Canada.
On a quarterly basis, total sales rose 1.3% in the third quarter of 2023 and on a year-over-year basis, sales increased 3.3% in September.
However, when total manufacturing sales are measured in constant dollars, they actually declined 0.6% in September, indicating a lower volume of goods sold. The Industrial Product Price Index was up 0.4% in September.
Sales for fabricated metal manufacturers were down 1.3% compared to the previous month but they were still strong enough to show a 2.5% year-over-year gain.
Manufacturing sub sectors that are key customers to Canadian metal manufacturing had varying results. Sales of motor vehicle parts were down 2.6% from the previous month but were still 18.8% ahead year-to-year. Similarly, ship and boat building were down 6.1% from the previous month but 16.5% ahead year-to-year. Aerospace product and parts showed a 1.0% increase from the previous month and are 13.5% ahead year-to-year. Durable goods manufacturing sales were down 0.2% for the month but 8.1% ahead on the year-over-year count.