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Mfg. Slows in July

It's manufacturing that helps make Canada go, but the brakes were put on in July, according to figures released by Statistics Canada.

The agency said Canadian manufacturing sales dropped by 2.6% in July, the most in more than a year, as annual auto plant shutdowns cut sales of cars and motor vehicle parts.

The decline was the biggest since the 4.2% plunge seen in February 2016. Analysts had predicted a 1.6% dip.

Sales fell in nine of 21 industries, representing 57% of the manufacturing sector and in volume terms fell by 1.4%.

The transportation equipment industry posted a 13.8% decline, the largest since May 2009. The nation's number crunchers also said the auto plant shutdowns were longer and more concentrated in July compared with previous years.