On Wednesday, Statistics Canada reported that Canadian factory sales plunged 0.9 per cent in July from June, primarily due to declines in primary metal industries and petroleum and coal products.

Notably, it was the third consecutive monthly downfall and in line with the agency’s preliminary estimate for the month. The biggest fall was in primary metal industries, which reported its largest plunge on record due to lower prices and volumes sold.

The national agency further said that unplanned interruptions at major primary metal manufacturers and concerns over a likely slowdown in the global economy impacted the industry.

Reportedly, sales of coal products and petroleum lowered 5.3 per cent in July due to lower prices. The drops were partly compensated by growths in food manufacturing sales, which grew 2.5 per cent to C$11.8 billion (USD 8.95 billion) in July. It was mainly because of higher grain and oilseed milling industry sales.

Founded in 1971, Statistics Canada is the agency of the Government of Canada entrusted with the task of producing statistics to help better understand Canada’s population, resources and economy. Anil Arora is the currently serving Chief Statistician of Canada.

On Wednesday, the Canadian dollar was trading 0.1 per cent lower at 1.3180 per US dollar or 75.87 US cents.