Canada November factory sales miss estimates
OTTAWA (Reuters) - Canadian manufacturing sales advanced less than expected in November from October as weakness in the automotive and aerospace sectors offset gains in most other industries, Statistics Canada said on Wednesday.
Factory sales inched up 0.1 percent compared with the median forecast of a 0.6 percent increase by analysts in a Reuters poll. Sales were down 10 percent from a year earlier.
Transportation equipment, the biggest industry by sales, saw shipments slide 4.3 percent in the month. That includes automakers, a sector that shrank significantly during the recession, selling 4.5 percent fewer motor vehicles than in October. Aerospace products and parts, which tend to be volatile from month to month, also contributed to the decline with a 15.4 percent tumble.
Excluding vehicles and parts, factory sales rose 0.5 percent in November.
Sales rose in 12 industries representing 57 percent of total sales, Statscan said. The biggest contributors were chemicals and petroleum and coal products.
Inventories fell 0.3 percent, bringing them 12.2 percent below November 2008 levels. New orders climbed 3.2 percent but the backlog of unfilled orders decreased 1.4 percent to their lowest level since March 2007.
($1 = $1.04 Canadian)
(Reporting by Louise Egan; Editing by Theodore d'Afflisio)
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