Shutterstock photo
Markets

Canada manufacturing sales rise 1.6% in May

Shutterstock photo

Shutterstock photo

Investing.com -

Investing.com - Canadian manufacturing sales rose more-than-expected in May, easing concerns over the country's economic outlook, official data showed on Wednesday.

In a report, Statistics Canada said that manufacturing sales increased by a seasonally adjusted 1.6% in May, beating expectations for a 1.3% gain.

Manufacturing sales for April were revised down to a 0.2% decline from a previously reported drop of 0.1%.

The gain was largely due to higher sales in the petroleum and coal product and motor vehicle industries.

Sales rose in 11 of 21 industries, representing about 61% of the manufacturing sector.

Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD rising 0.03% to hit 1.0762.

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!

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


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

Other Topics

ForEx