Canadian Factory Shipments Improve

Canadian factory shipments rose twice as quickly as anticipated in February on a jump in automobile production after shutdowns late last year, Bloomberg reported Wednesday.

Shipments rose for a second straight month, gaining 1.6% to C$50.1 billion, Bloomberg said, citing the government agency Statistics Canada.

The increase mainly reflected a rebound in car manufacturing, after some factories slowed production during December and January for retooling and inventory control, StatCan said.
 
Factory sales remained below year-earlier levels as the industry struggles with a slowdown in the United States, where about 75% of Canada’s exports are shipped, Bloomberg reported.

February shipments were 2.3% below the same month last year, and new orders declined 2.9% to C$50.2 billion, StatCan said.