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Canada manufacturing sales fall 0.2% in January

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Investing.com - Canadian manufacturing sales fell unexpectedly in January, declining for the second consecutive month, official data showed on Tuesday.

In a report, Statistics Canada said that manufacturing sales declined by a seasonally adjusted 0.2% in January, after dropping by 3.1% in the preceding month.

Economists had expected Canadian manufacturing sales to rise by 1% in December.

Overall, 7 of 21 industries posted lower sales in January, representing approximately 52% of the manufacturing sector.

Following the release of the data, the Canadian dollar remained lower against its U.S. counterpart, with USD/CAD gaining 0.27% to hit 1.0244.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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