Two key indicators of the economy climbed higher in August as Statistics Canada says manufacturing sales rose 0.7 per cent to $72.4 billion. StatCan says manufacturing sales were boosted by higher sales of petroleum and coal, food and machinery. A man pumps gas in Montreal, Friday, March 4, 2022. THE CANADIAN PRESS/Graham Hughes
OTTAWA – Two key indicators of the economy climbed in August as Statistics Canada says manufacturing sales rose 0.7 per cent to $72.4 billion that month, while wholesale trade sales excluding petroleum, petroleum products and other hydrocarbons, and excluding oilseed and grain, increased 2.3 per cent to $83 billion.
StatCan says manufacturing sales were boosted by the petroleum and coal, food and machinery subsectors.
The agency says sales of petroleum and coal products rose 10.5 per cent to $8.4 billion in August on higher volumes and prices, while sales of food products rose 1.5 per cent to $12.6 billion in August, the highest level on record.
It attributes the overall monthly increase to higher prices as sales in real terms decreased 0.7 per cent in August.
Meanwhile, the agency says the increase in wholesale sales was driven by the machinery, equipment and supplies subsector and the miscellaneous subsector.
It says sales in the machinery, equipment and supplies subsector rose 5.2 per cent to $18.6 billion in August, recording its first increase in three months, led by higher sales in the farm, lawn and garden machinery and equipment industry group.
This report by The Canadian Press was first published Oct. 16, 2023.
