By Paul Vieira
OTTAWA–Canadian manufacturing sales rebounded in September after a drop in the previous month, on record shipments from sawmills and wood producers.
Canadian factory shipments increased 1.5% in September from August to a seasonally adjusted 53.80 billion Canadian dollars, or the equivalent to $40.92 billion, Statistics Canada said Monday. Market expectations weren’t immediately available.
The prior month’s data were revised higher, and now indicate shipments fell 1.4% versus an earlier estimate of a 2% drop.
For the third quarter, Statistics Canada said manufacturing sales on a nonannualized basis surged 26.6% after four straight quarterly declines. Still, the data agency added manufacturing shipments remained 3.6% below the level set in February, or before the pandemic struck North America in earnest.
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(END) Dow Jones Newswires