Canada’s manufacturing sales rise 0.7% in February

ISTANBUL

Canada’s manufacturing sales rose 0.7% to $71.6 billion in February, according to figures released Monday by the country’s statistical agency.

The figure came in line with market estimates, after seeing a 0.2% increase in January.

The rise in February was led by electrical equipment, appliance, and component products with 12.6%, the highest on record, and higher sales of petroleum and coal, up 4.3%.

“In February, prices of refined petroleum energy products increased 5.9%, partially due to higher prices of conventional crude oil, the key input for refined petroleum products,” Statistics Canada said in a statement.

“Despite the monthly increase, sales of petroleum and coal products decreased 1.5% on a yearly basis in February,” it added.