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Canadian manufacturing doing well

Graham Immerman
February 27, 2018

CBC reported, "Statistics Canada said manufacturing sales in the fourth quarter of last year rose by about 2.8 per cent to $164.8 billion, driven in part by higher sales of petroleum and coal products, but mostly due to higher prices." December specifically may have been down, but the fourth quarter all together ended up positive. The month of December showed lower sales in petroleum, coal and food manufacturing, causing the dip. We were happy to see the end-of-year rebound and here's to a great 2018!

Canadian manufacturing rebounds in fourth-quarter despite soft DecemberSource: http://www.cbc.ca

The Bank of Canada should be pleased with a year-end rebound in the Canadian manufacturing sector, according to new report from Scotiabank. Statistics Canada said manufacturing sales in the fourth quarter of last year rose by about 2.8 per cent to $164.8 billion, driven in part by higher sales of petroleum and coal products, but mostly due to higher prices. The rise in the three months to December followed a 1.8 per cent decrease in sales in the previous quarter. "I would think that on net the [Bank of Canada] will be encouraged by the magnitude of the rebound in the manufacturing sector over the fourth quarter relative to the soft patch in [the third quarter]," said Derek Holt, economist at Scotiabank in a note on Friday. Holt pointed out that fourth-quarter manufacturing sales volumes were up by a "quite solid" 4.4 per cent from the third quarter on a seasonally adjusted and annualized rate. That offsets the 1.4 per cent decline seen in July to September period. Read More

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