By Robb M. Stewart
OTTAWA--An advance estimate points to a drop in Canadian factory sales in December, led by a fall in shipments of petroleum, coal products and wood, and by primary metal industries.
An early estimate of sales in the manufacturing sector indicates a drop of 1.8% for the final month of last year, Statistics Canada said Wednesday.
Manufacturing shipments were unchanged in November from the month before at a seasonally adjusted 72.34 billion Canadian dollars, the equivalent of about $54.1 billion, the data agency reported earlier this month. Sales on a volume, or price-adjusted basis, edged up 0.1% for the month, while inventory levels held by factories slipped 0.5% in November, the first monthly decline since December 2020.
The estimate for December was based on a weighted response rate to Statistics Canada's survey of roughly 57%. The official estimate of manufacturing sales for December, 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
01-25-23 0855ET
