Canadian factory sales fell in October, the second decline in three months after reaching a record, led by declines in aerospace and primary metals.
Sales fell 0.6 per cent to $52.7-billion, Statistics Canada said today in Ottawa. Economists forecast a 0.3-per-cent decrease, according to the median of a Bloomberg survey with 15 responses.
Bank of Canada Governor Stephen Poloz is counting on sustained export and investment gains to bring the economy to full output over the next two years. Faster growth in the U.S., which buys three-quarters of Canada's exports, and a weaker currency should help non-energy manufacturers, Poloz has said.
Aerospace sales plummeted by 15.6 per cent to $1.58-billion in October from a record in September, Statistics Canada said. Sales in the industry were 5.4 per cent above year-ago levels. Primary metal sales slid from a six-year high in October, by 5.5 per cent to $4.14-billion. Excluding those two categories, factory sales rose 0.4 per cent.
Automobile sales rose 1.8 per cent to $4.91-billion in October. Sales excluding motor vehicles and parts decreased 0.9 per cent to $45.6-billion, Statistics Canada said.
Excluding price changes, a better indicator of the contribution to economic growth, factory sales fell 0.5 per cent.
Unfilled orders rose 0.5 per cent to $90.9-billion, and new orders fell 1.9 per cent to $53.2-billion.