OTTAWA, Ont. - Manufacturers' shipments dropped 1.8 per cent in February to $43 billion, following three months of healthy growth. Slower business in the auto, fabricated metal products, and electrica...
BUILDING SPEED: A strong construction sector helped trucking in January.
OTTAWA, Ont. – Manufacturers’ shipments dropped 1.8 per cent in February to $43 billion, following three months of healthy growth. Slower business in the auto, fabricated metal products, and electrical and electronic industries was the main reason for the downturn, according to Statistics Canada.
Vehicle shipments dropped by 6.1 per cent from the previous month, fabricated metal products fell by 7.7 per cent while shipments of electrical and electronic products were off by 3.1 per cent.
February’s drop was only the second in the last 12 months for a Canadian economy enjoying its longest growth spurt since the 1960s. Despite the drop, shipments in February were 10.3 per cent higher than at the same time a year ago. Shipments also increased during February in 16 of the 22 major industry groups tracked by Statistics Canada, led by a 10.3 per cent gain in the refined petroleum and coal sector and a 1.3 per cent gain in the chemical products industries. n
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