OTTAWA (Reuters) - Canadian manufacturing sales increased by a greater-than-expected 1.0 percent in November, breaking a three-month falling streak, Statistics Canada data indicated on Wednesday.
Analysts polled by Reuters had forecast sales would increase by 0.5 percent from October.
The healthy figures contrast with a string of recent gloomy data which, together with plunging oil prices, has put pressure on the Bank of Canada to cut interest rates. Its latest announcement is due later on Wednesday.
November’s growth in manufacturing sales was largely fueled by a 3.8 percent rise in motor vehicle sales, which benefited from a decision by automakers to focus on higher value models.
Sales were 18.0 percent higher than in November 2014. The motor vehicle industry’s share of the total manufacturing sector in November was 10.9 percent, the highest since the 11.3 percent seen in March 2007.
Petroleum and coal product sales declined by 0.9 percent while primary metals dropped by 1.2 percent. Unfilled orders fell 0.3 percent while new orders jumped by 3.5 percent.
Reporting by David Ljunggren; Editing by Jeffrey Benkoe