By Paul Vieira
OTTAWA–Canadian manufacturing shipments rebounded strongly in October after a decline in the previous month, with sales reaching a record.
Canadian factory sales climbed 4.3% in October from the previous month to a seasonally adjusted 61.21 billion Canadian dollars, or the equivalent to $47.58 billion, Statistics Canada said Wednesday. Market expectations were for a 4.1% advance, according to economists at TD Securities. October’s increase was the fastest in seven months.
In the previous month, manufacturing sales fell by a revised 2.8%, versus an earlier estimate of a 3.0% drop.
On a one-year basis, manufacturing shipments climbed 13.3% in October.
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