As reported by the Canadian Manufacturing Coalition (CMC), manufacturing sales dip slightly in February. After a modest rebound to start the year, manufacturing sales activity softened again in February as a recovery in petroleum refining was unable to offset weakness elsewhere.
Overall, manufacturing output across Canada was down slightly compared to January, falling by 0.2 per cent to reach $56.6 billion. The sector had started 2019 off strongly, posting its first month of solid growth since last July. Unfortunately, not only did output stagnate in February, but January’s growth figures were revised downward as well, erasing about half of the estimated gains that month. Manufacturing sales remain 3.2 per cent below their July peak.
The CISC is committed to sharing vital information and news to help contribute to the success of the steel industry. Below is the full manufacturing sales report for April 2019 prepared by CMC’s Chief Economist, Mike Holden.