Manufacturing sales fell from a record high in August, dropping by 3.3% month-over-month to $52.1 billion, according to figures released by Statistics Canada this morning.
This decline is the first of the year, and the biggest in more than five years.
The dropoff was also worse than the 2% decrease economists had called for, and brings manufacturing sales below levels seen in June.
New orders fell by 3.8% over the month.
A bright spot: July’s reading, initially reported as a rise of 2.5%, was revised upwards by four 10ths of a percentage point.
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