Manufacturing Sales Up in July

CBJ — Optimism for the future is permeating among economists after newly-released preliminary data indicates that manufacturing sales continued to move in an upward trend last month, advancing by nearly 9% nationwide.

However, of concern to economists is that the rate was well below the 21% gain from June, according to figures released by Statistics Canada. The majority of June’s increase was due to the automotive industry and its associated parts industries.

The official final manufacturing sales tally for July is expected to be released by StatsCan on September 15.