Key Insights: Manufacturing sales & Consumer Price Index
Courtesy of the The Conference Board of Canada
| The latest Economic Quick Takes from The Conference Board of Canada are available now. Here are highlights and key insights into Statistics Canada’s February 16 manufacturing sales and Consumer Price Index releases: Sales growth in December ends a difficult year for Canadian manufacturers. Canadian manufacturing sales rose by 0.7 per cent (m/m) in December. This was slightly lower than Statistics Canada’s flash estimate, which called for a 0.8 per cent increase. After accounting for price effects, manufacturing sales rose by 0.6 per cent.Sales grew in 11 of the 21 manufacturing subsectors. Sales of leather and allied products (+13.7 per cent) and plastics and rubber products (+11.8 per cent) grew the most. Meanwhile, clothing manufacturing sales (-9.2 per cent) saw the sharpest decline.Manufacturing sales grew in 7 of 10 provinces, with Manitoba (+7.2 per cent) and Prince Edward Island (+3.3 per cent) registering the strongest gains. Sales fell in Newfoundland and Labrador (-6.9 per cent), Quebec (-1.2 per cent) and Saskatchewan (-0.4 per cent).New orders increased by 1.4 per cent, while unfilled orders grew by 1.7 per cent.Here’s our take on what we may see in the coming months for manufacturing sales. |
| Consumer Price Index Discussed always and everywhere nowadays, inflation climbs in January In January, the Consumer Price Index (CPI) rose by 5.1 per cent (y/y), the largest year-over-year increase since September 1991. Gasoline prices rose 4.8 per cent (m/m). Meanwhile, year-over-year food prices were up 5.7 per cent. Excluding food and energy, the CPI climbed by 3.5 per cent (y/y) in January. Year-over-year prices were higher in all eight major CPI components. The transportation (+8.3 per cent) and shelter (+6.2 per cent) components contributed most to the increase in the CPI.On a seasonally adjusted monthly basis, the CPI went up 0.6 per cent in January (0.3 per cent in December). The average of the Bank of Canada’s three core inflation measures bumped up to 3.2 per cent in January from 3.0 per cent in December. CPI-trim increased to 4.0 per cent, CPI-median grew to 3.3 per cent, and CPI-common moved up to 2.3 per cent.We take a closer look at what’s impacting the CPI in January, and what factors are likely to play a role in February. |
Business Mentor & CEO at Grow Vantage & Ask For Directions Training
Business Mentor at Ask For Directions Training and Grow Vantage
Patricia is the Business Mentor and owner of Grow Vantage and a Past President of the Barrie Chamber of Commerce. She applies over 30 years of business experience (from start-up to corporate) to mentor entrepreneurs. Since 2011, she has held over 6,500 coaching and training sessions in-person and online. Through Ask For Directions Training, her entrepreneurial training program (and parent company Grow Vantage), and as a business coach, she works with start-ups who are new (or who have lost traction) to design, launch and grow their businesses. Along with 20 other expert instructors she teaches strategies in marketing, sales, communications, and finance, as well as practical techniques to increase productivity, and manage their businesses. In other words, everything entrepreneurs need to learn to grow and run their businesses successfully, and avoid the costly mistakes they can't even see coming - that lead to delays in growth and getting stuck.
Patricia is the Business Mentor and owner of Grow Vantage and a Past President of the Barrie Chamber of Commerce. She applies over 30 years of business experience (from start-up to corporate) to mentor entrepreneurs. Since 2011, she has held over 6,500 coaching and training sessions in-person and online. Through Ask For Directions Training, her entrepreneurial training program (and parent company Grow Vantage), and as a business coach, she works with start-ups who are new (or who have lost traction) to design, launch and grow their businesses. Along with 20 other expert instructors she teaches strategies in marketing, sales, communications, and finance, as well as practical techniques to increase productivity, and manage their businesses. In other words, everything entrepreneurs need to learn to grow and run their businesses successfully, and avoid the costly mistakes they can't even see coming - that lead to delays in growth and getting stuck.
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