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Canadian manufacturing numbers decline

Published by Steve Coleman on August 16, 2011

June ended with a thud for Canadian manufacturing.

Month-end numbers from Statistics Canada say manufacturing sales fell 1.7 per cent for the month to $45.3 billion, the lowest amount since November 2010.

Across the board, sales fell all three months of the second quarter of 2011 after a growth spurt that started in May 2009.

Stats Can says the big losers for the month were petroleum and coal products, machinery and goods that fell into the "miscellaneous" category. Fifteen of 21 industries, representing 77.5% of total manufacturing, reported lower sales for the month.

Manufacturing accounts for 13% of Canada's GDP and more than two-thirds of Canada's merchandise exports, said Jean Michel Laurin, CME Vice President of Global Business Policy. As of last month, more than 1.7 million Canadians were directly employed by a Canadian manufacturing company. That represents one in 10 Canadian jobs.

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