Canada Factory Sales Jump

Canadian manufacturing sales in August jumped much more than expected on widespread strength, reinforcing expectations that broad economic growth rebounded in the third quarter, Reuters reported. Statistics Canada said on Tuesday that sales rose by 0.9% from July to hit C$51.12 billion ($39.02 billion) as eight of the country’s 10 provinces recorded increases. Market analysts polled by Reuters had forecast a 0.2% gain. Sales advanced in 15 of 21 industries, representing 69% of the manufacturing sector, while in volume terms sales climbed by 1.2%.