Canadian Factory Shipments Hit Lowest Level in 2 Years
Release taken from Statistics Canada
Factory shipments hit their lowest level in nearly two years in October, mainly because of falling petroleum prices and a slowdown in the food and transportation equipment sectors.
Canadian manufacturers shipped goods worth an estimated $47.7 billion, down 0.1% from September and the lowest level since December 2004. While the rate of decline has eased, shipments have fallen for three consecutive months. As has been the case in three of the last four months, falling prices have been a major factor in the decline in shipment value.
After taking price fluctuations into account, the volume of shipments was down 0.6% ...