Canadian manufacturing hits 11-year low

OTTAWA, July 15 (UPI) -- Canadian manufacturing sales hit an 11-year-low in May, down 6 percent on a monthly basis to $38.4 billion, Statistics Canada reported Wednesday.

"The transportation equipment industry led the declines, falling 25.7 percent compared with April," the agency said. "Excluding the transportation equipment industry, total Canadian manufacturing sales decreased 2.1 percent."

May's volume fell to levels last seen in November 1998, StatsCan said.

Of 21 manufacturing sectors, sales fell in 17 of them, led by two sub-sectors in transportation.

Motor vehicle manufacturing sales fell 25.4 percent as a result of several plant closures, which triggered a 22.2 percent decline in motor vehicle parts manufacturing, the agency said.

The petroleum and coal products industry was the main offsetting industry nationally, reporting a 6.2 percent increase in May.

Regionally, sales in Quebec fell 9.1 percent in May, after a 4.2 percent gain in April. The loss leader in the province was a 55.1 percent drop in aerospace products production, StatsCan said.