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Market analysts had forecast an increase of 0.4
percent. Statscan revised January's month-on-month decline to
3.0 percent from an initial 1.7 percent drop, citing new
information from respondents.
Monthly manufacturing sales have fallen 6.8 percent from their
most recent high of C$53.67 billion in July 2014, a clear sign
the sluggish Canadian economy is operating well below capacity.
Sales of motor vehicles dropped by 14.9 percent to C$4.16
billion, the lowest since December 2012, thanks largely to
closures for retooling at assembly plants in Ontario.
Output of aerospace products slumped by 25.7 percent to C$1.36
billion. Most contracts are in U.S. dollars and a sharply weaker
Canadian dollar in January had boosted the value of production.
This effect was not seen in February, when the Canadian currency
proved to be more stable.
The volume of sales fell 2.5 percent. Overall sales were down in
10 out of 21 industries, accounting for just under half of all
manufacturing. Inventories rose 0.9 percent to a record high of
C$72.17 billion.
($1=$1.25 Canadian)
(Reporting by David Ljunggren; Editing by Meredith Mazzilli)
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