Canada Factory Sales Miss Estimates in Latest DisappointmentTheophilos Argitis
Canadian factory sales were little changed in July, missing estimates for a sharp gain for the month.
Shipments rose 0.1 percent to C$50.7 billion ($38.3 billion), Statistics Canada reported Friday. Economists surveyed by Bloomberg News had forecast a 1 percent gain.
The July shipments data marks another disappointment for a sector that has struggled to gain much momentum even with a weaker Canadian dollar and some strength in the U.S. economy.
The biggest drags in July came from aerospace, which was down 9 percent, and a 3.3 percent drop by machinery producers.