The year got off to a rough start for the manufacturing sector, according to figures released this morning byStatistics Canada
The agency reports manufacturing sales fell 1.7% in January due to a sharp drop in petroleum and coal products.
The result compared with what economists had expected would be a drop of 1.2%.
The federal agency says sales in the petroleum and coal product industry fell 11.9% in January — the seventh consecutive monthly decline.
Sales of machinery fell 8.9% in January, after a 10.4% gain in December.
Excluding the petroleum and coal product industry, manufacturing sales fell 0.5%
StatsCan also says sales fell in eight provinces, with Ontario and Alberta posting the largest declines.
