Business
Canadian manufacturing flat in 2007
Ottawa | May 10, 2008 12:01:13 AM IST
Canadian manufacturers posted a 0.4 percent increase in sales to $613.4 billion in 2007, Statistics Canada reported Tuesday. The food industry remained Canada's largest manufacturing industry last year in terms of sales, with factory sales up 2.9 percent to $74.2 billion, while the petroleum and coal products industry surpassed motor vehicles for the first time to become the second largest. There was a curious twist last year in that employment fell by an estimated 55,300 jobs and total hours worked declined 2.9 percent while labor productivity increased 1.9 percent last year, StatsCan said. Had it not been for soaring sales of petroleum and coal products, up 65 percent from 2003 to 2007, total manufacturing sales would have declined 1.1 percent in 2007, after a 1.4 percent drop in 2006, the report said. The biggest decline among all manufacturing industries was in sales of wood products, which plunged 15.6 percent to $24.9 billion, the lowest level since 1996, StatsCan said. (UPI)
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