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- Canada’s manufacturing sales unexpectedly fall in April
Canada’s manufacturing sales unexpectedly fall in April
Statistics
Canada released its Monthly Survey of Manufacturing on Tuesday, which showed
that the Canadian manufacturing sales declined 0.6 percent m-o-m in April to
CAD57.78 billion, following a revised 2.6 percent m-o-m surge in March
(originally a 2.1 percent m-o-m gain).
Economists had
anticipated an advance of 0.4 percent m-o-m for April.
According to
the survey, sales decreased in 8 of 21 industries, representing 36.1 percent of
total manufacturing sales. The transportation equipment (-6.7 percent m-o-m) and
primary metal (-5.3 percent m-o-m) industries posted the largest declines in April.
Excluding transportation equipment, manufacturing sales increased by 0.8 percent
m-o-m in April.
Overall, sales
of durable goods fell 3.5 percent m-o-m in April, while sales of non-durable
goods rose 2.6 percent m-o-m.
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