Canada Factory Shipments Rise 0.4% in May, Cooling From Prior Month

By Robb M. Stewart

OTTAWA--Canadian factory sales rose in May, largely due to increased production of aerospace products and parts, as well as increase in sales of food and paper.

Manufacturing shipments grew 0.4% from the month before to a seasonally adjusted 71.45 billion Canadian dollars, the equivalent of about US$52.38 billion, Statistics Canada said Monday.

The result was slightly stronger than the data agency's advance estimate for 0.2% advance for the month, but marks a slowdown from an upwardly revised 1.4% increase in April sales.

Sales in constant dollars were also up 0.4% for the month, at C$55.81 billion, an indication of an increase in volumes of goods. The industrial raw material price index declined 1.0% for the month.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

07-15-24 0902ET