Investing.com - Canadian manufacturing sales rose more-than-expected in July, easing concerns over the country’s economic outlook, official data showed on Tuesday.
In a report, Statistics Canada said that manufacturing sales increased by a seasonally adjusted 2.5% in July, beating expectations for a 1% gain.
Manufacturing sales for June were revised up to a 0.9% gain from a previously reported increase of 0.6%.
Manufacturing sales have trended upwards since January. The gain in July was largely attributable to higher sales in the transportation equipment and primary metal industries.
Sales rose in 16 of 21 industries, representing about 56% of Canadian manufacturing.
USD/CAD was trading at 1.1031 following the release of the data, from 1.1037 ahead of the report.