Manufacturing sales were up more than expected in August, reaching their highest level in almost three years, Statistics Canada said Friday.
The federal agency said sales from factories were up 1.4% in August, on a seasonally adjusted basis, to $47.6 billion. That’s the highest value since October 2008.
The results surpassed the median forecast of a 0.5% gain expected by economists polled by Bloomberg. July’s figures were revised to to show a 3% gain, up from the 2.7% rise previously reported.
Statistics Canada said August’s factory-sale gains were concentrated in such sectors as transportation equipment, food, and petroleum and coal products.
Transportation-sector sales were up 7%. Gains includes sales of products associated with aerospace, rail and marine travel, more than making up for declines in the automotive sector.
Gains were seen in most provinces, with notably strong results in Ontario, Quebec, and Newfoundland and Labrador. Nova Scotia and Manitoba were the only provinces to see declines in manufacturing sales in August.
