Winnipeg Free Press - PRINT EDITION

Business watch

  • Print

Manufacturing sales fall in Manitoba

MANUFACTURING sales in Manitoba fell 4.7 per cent in August -- the biggest month-over-month decline among the provinces, Statistics Canada said Tuesday.

The agency said local factories shipped out $1.27 billion worth of goods during the month, down from $1.33 billion in July. It said lower sales of durable goods, such as machinery and transportation equipment, were responsible for the decline.

The only other province to see a drop-off in sales was Quebec, where sales dipped by 0.3 per cent. The other eight provinces posted increases ranging from 0.5 per cent to 7.8 per cent.

Manitoba's decline came after three consecutive months of modest sales gains. It left sales running 1.9 per cent ahead of last year's pace after the first eight months of the year -- $10.34 billion versus $10.15 billion.

Nationally, manufacturing sales rose by 1.5 per cent to $49.5 billion in August -- their highest level since March of this year. Statistics Canada said the gain was largely due to higher sales in the motor vehicle industry and in coal and petroleum products.

Citigroup picks bank veteran as CEO

NEW YORK -- In picking Michael Corbat to take over as CEO of Citigroup, the board of directors chose a low-profile veteran of the bank -- a sharp contrast to Vikram Pandit, his suddenly departed predecessor.

Corbat, 53, has spent his entire career at Citigroup and its affiliated businesses. A former All-American offensive lineman on Harvard's football team, Corbat worked his way up the ranks at Salomon Brothers, helped Citi navigate the 2008 financial crisis, rebuilt its credit-card business and, most recently, ran the bank's operations in Europe, the Middle East and Africa.

Perhaps partly because he has spent so much time at one bank and partly because of the sudden nature of his elevation, few on Wall Street had a quick opinion about him on Tuesday.

-- staff, news services

Republished from the Winnipeg Free Press print edition October 17, 2012 B7

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Peguis Chief Hudson comments on toddler's death upgrade to homicide investigation

View more like this

Photo Store Gallery

  • PHIL.HOSSACK@FREEPRESS.MB.CA 100527-Winnipeg Free Press THe Provencher Foot Bridge is lit up
  • KEN GIGLIOTTI  WINNIPEG FREE PRESS / July 23 2009 - 090723 - Bart Kives story - Harry Lazarenko Annual River Bank Tour - receding water from summer rains and erosion  damage by flood  and ice  during spring flooding -  Red River , Lyndale Dr. damage to tree roots , river bank damage  , high water marks after 2009 Flood - POY

View More Gallery Photos

Poll

Should the city grant mosquito buffer zones for medical reasons only?

View Results

View Related Story

Ads by Google