By Commodity News Service Canada
WINNIPEG, November 16 – The following is a glance at the news moving markets globally.
– Manufacturing sales rose for the fourth consecutive month, up 0.3 per cent to C$51.5 billion in September. The gain reflected higher sales in the transportation equipment and fabricated metal industries, Statistics Canada said in a report on Wednesday.
However, when looking at the data in constant dollar terms, sales edged down 0.2 per cent, indicating that lower volumes of manufactured goods were sold in September.
Manufacturing sales can be an indicator of the economy’s health, market watchers say, and increased sales can boost gross domestic product.
The StatsCan report noted that inventories in the manufacturing sector rose 0.5 per cent to C$70.3 billion in September. Higher stocks in the transportation equipment, food, and chemical industries all contributed to the increase.
Increasing inventories can indicate that demand is sluggish, or that it is expected to increase, analysts say.
– US producer prices were flat in October, according to reports out of the country on Wednesday.
Market watchers say an increase in the cost of goods was tempered by lower services costs.