Canadian manufacturing sales rose in November for the first time in four months, as car makers led a rebound in factory shipments.
Factory sales rose 1 percent on the month, after a drop of
1.3 percent in October and 1.4 percent in September, Statistics Canada reported Wednesday from Ottawa. Economists forecast November sales would rise by 0.5 percent according to the median of a Bloomberg survey with 17 responses.
The numbers reflect a surge in the value of car shipments, due in part to the benefits of the lower Canadian dollar and a shift in production to higher priced vehicles, Statistics Canada said. Car sales rose 3.8 percent in November, boosting the industry’s share of total factory sales to the highest since March 2007.
Car sales in November were 18 percent higher than a year ago, the statistics agency said. Excluding auto sales, manufacturing shipments rose 0.6 percent in November.
The production of petroleum and coal products extended declines with a 0.9 percent drop during the month, bringing sales down 28 percent from a year ago.
In a separate release, Statistics Canada reported a 1.8 percent gain in wholesale sales in November, also driven by gains in motor vehicle sales. It was the first gain in five months, beating economists’ expectations of a 0.4 percent gain.