By Robb M. Stewart
OTTAWA--An advance estimate points to a retreat in Canadian factory trade last month, led by lower sales of transportation equipment and chemical products.
An early estimate of sales in the manufacturing sector indicates a decline of 0.6% in December, Statistics Canada said Thursday.
Manufacturing sales rose 1.2% in November from the month before to a seasonally adjusted 71.69 billion Canadian dollars, the equivalent of about $53.01 billion, the data agency reported earlier this month. The recovery from weaker sales the prior month was led by sales of chemical products thanks to increased volumes as several petrochemical plants returned to normal production following shutdowns.
December's estimate was based on a weighted response rate to Statistics Canada's survey of roughly 65%. The official estimate of manufacturing sales for the month, based on more complete data, is scheduled to be released Feb. 15.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
01-25-24 1000ET
