Statistics Canada announced that total manufacturing sales increased 1.7% to $73.0 billion in January, mainly on higher sales in the motor vehicle industry group (+11.1%) as well as the petroleum and coal product subsector (+4.7%). Chemical product sales declined the most, down 7.4% to $5.0 billion in January.

Following a 4.7% decline in December, motor vehicle sales rebounded 11.1% to $5.0 billion in January, marking the largest month-over-month increase since March 2023. Sales of motor vehicle parts rose 5.8% from December to $2.9 billion in January. The gain in January is explained by operations resuming after planned winter shutdowns in December. In addition, higher sales of some electric vehicle models contributed to the gain.

Sales in the chemical product subsector fell 7.4% to $5.0 billion in January, the lowest level since June 2021. The decline was mainly due to maintenance shutdowns at some basic chemical plants as well as lower-than-typical seasonal sales of pesticide, fertilizer, and other agricultural chemical products.

Sales rose in eight provinces in January, with Ontario and Alberta posting the largest gains, while Newfoundland and Labrador saw the most significant decline.

 

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