OTTAWA: Canadian factory sales rose for a third straight month in July, led by shipments of vehicles and auto parts, in another sign the non-energy side of the economy is picking up steam and set to drive growth in the second half of 2015.
July manufacturing sales climbed at a faster-than-expected pace of 1.7% to 52.19 billion Canadian dollars (US$39.40 billion). Economists anticipated an advance of 1.1%, according to Royal Bank of Canada.
The previous month’s data were revised higher as well, and indicate factory sales increased 1.5% versus the original estimate of a 1.2% gain. On a volume basis, sales in July rose 1.1%.
