CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

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CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

Manufacturing sales down in June but automotive sales booming

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Automotive was a bright spot in an otherwise disappointing June manufacturing sales report with sales of motor vehicles up 11.4% for the month.

Manufacturing sales decreased 1.7% to $71.5 billion in June, on widespread declines over 14 of 21 subsectors, monthly data released by Statistics Canada reveals.

Sales of motor vehicles, however, were strong. They rose 11.4% to $5.6 billion in June.

Many auto manufacturing plants increased their production in June and operated at a higher production capacity, leading to an 11.4% increase in sales of motor vehicles to $5.6 billion, the highest level since June 2019. On a quarterly basis, motor vehicle sales were up 8.1% in the second quarter of 2023, the third consecutive quarterly gain. Sales of motor vehicle parts, however, declined 6.8% in June following a significant increase in May. The exports of motor vehicles and parts increased 4.7% in June.

On a quarterly basis, total Canadian manufacturing sales fell 0.8% in the second quarter of 2023, mainly on lower sales in the petroleum and coal product (-8.1%) and primary metal (-8.9%) subsectors. Year over year, total sales decreased 1.4% in June.

Total sales in constant dollars declined 1.0% in June, indicating a lower volume of goods sold. The Industrial Product Price Index fell 0.6% in June.

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