UPDATE 1-Canada factory sales eke out tiny gain in June

* Sales grow 0.1 percent; new orders fall 0.3 percent

* Paper, fabricated metal and chemicals lead gains

* Food and energy products biggest decliners
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OTTAWA, Aug 17 (BestGrowthStock) – Canadian manufacturing sales
unexpectedly edged higher by 0.1 percent in June as gains in
the paper industry and a handful of other sectors offset
slowing demand for exports like energy products and autos.

Nine industries reported sales growth in the month while 12
reported shrinking sales Statistics Canada said on Tuesday. In
volume terms, sales rose 0.7 percent.

Surprised in part by earlier data showing a 2.5 percent
slide in exports in June, analysts had expected factory sales
to slip 0.3 percent in the month.

Statscan revised its estimate of sales growth in May to a
0.5 percent increase from 0.4 percent previously.

Paper products, fabricated metal and chemicals buoyed
manufacturing in June, while the food and petroleum and coal
products industries led the declines.

Inventories expanded for the first time since February,
rising 0.7 percent partly due to the rising value of petroleum
and coal products held in stock. The inventory-to-sales ratio
— the number of months it would take to exhaust stock at the
current sales pace — crept up to 1.31 in June from 1.30 in

New orders fell 0.3 percent while unfilled orders increased
1.3 percent.
(Reporting by Louise Egan; Editing by Theodore d’Afflisio)

UPDATE 1-Canada factory sales eke out tiny gain in June