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Statistics Canada released manufacturing shipments on Friday. Canadian manufacturing shipments dropped 3.3% in February, missing expectations for a 1.5% decrease, after a 2.3% increase in January.
The decrease was mainly driven by lower motor vehicles, and petroleum and coal products sales. Motor vehicle sales plunged 10.5% in February, while sales of petroleum and coal products dropped 12.6%.
Inventories decreased 0.7% in February, driven by drops in petroleum and coal product, computer and electronic product, and aerospace product and parts sales.
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