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Canadian Manufacturing Sales Rise Less Than Forecast, Near 2008 Highs

Canadian manufacturing sales continued to rise in December, although the pace of the increase disappointed economists expecting more robust growth, official data showed Thursday.

Led by strong demand for transportation equipment, manufacturing sales advanced 0.6 percent to $49.9 billion, the fifth increase in six months, according to Statistics Canada. This follows a 2 percent increase monthly increase reported in November.

December's total sales were just short of a record high of $50.2 billion, set more than three years before.

"With December's increase, monthly sales for 7 of 21 manufacturing industries have reached or surpassed levels recorded in October 2008, the onset of the recent economic downturn," the agency said.

Sales of durable goods were up 2.1 percent on month.

For the year 2011, manufacturing sales were up almost 10 percent from 2010.

by RTTNews Staff Writer

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