Perhaps our economy turned a corner in the third quarter, as more evidence was presented Tuesday morning on prosperity in the manufacturing sector.
Figures released Tuesday by Statistics Canada revealed manufacturing sales rose by 0.9% from July to hit $51.12 billion as eight of the 10 provinces recorded increases. Market analysts had forecast a 0.2% gain.
The agency went on to say sales advanced in 15 of 21 industries, representing 69% of the manufacturing sector, while in volume terms sales climbed by 1.2%.
Sales in the food industry hiked 1.7% in August to hit a record $8.57 billion, while the primary metals industry posted a 3.6% gain to reach $3.89 billion.
Sales of transportation equipment, the largest of the 21 industries, dropped by 1.1% to $10.55 billion as unusual one-week shutdowns at some automobile assembly plants cut sales of motor vehicles. Plants usually schedule closures in July.
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