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MNI BRIEF: Canada Feb Factory Sales Fall on Chip Shortage

(MNI) OTTAWA
OTTAWA (MNI)

Canadian manufacturing sales fell 1.6% in February as a global semiconductor shortage disrupted automobile production, government figures showed Thursday.

The decline gave back part of January's 3.4% increase, and the industry's output remains near pre-pandemic levels. Higher prices for products such as lumber and energy masked a 4% drop in the volume of factory sales.

Automobile sales fell 15% following January's decline of 9.1% when the chip shortage emerged, leaving them 31% lower than a year earlier. Industry sources have told MNI they are somewhat optimistic about the economy's resilience to the continued pandemic.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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