Statistics
Canada released its Monthly Survey of Manufacturing on Thursday, which showed
that the Canadian manufacturing sales rose 2.1 percent m-o-m in March to CAD57.97
billion, following an unrevised 0.2 percent m-o-m decrease in February.
Economists had
anticipated an advance of 1.1 percent m-o-m for March.
According to
the survey, sales increased in 12 of 21 industries, representing 56.4 percent
of total manufacturing sales. The transportation equipment (+4.5 percent m-o-m),
petroleum and coal product (+8.2 percent m-o-m), and primary metal (+5.3
percent m-o-m) industries posted the largest gains in March. Sales were also up
in the aerospace product and parts (+7.1 percent m-o-m), machinery (+2.2 percent
m-o-m), miscellaneous (+7.2 percent m-o-m) and computer and electronic product
(+3.8 percent m-o-m) industries. These gains, however, were partially offset by
declines in the paper (-2.2 percent m-o-m), electric equipment, appliance and
component (-4.6 percent m-o-m) and plastic and rubber product (-1.3 percent
m-o-m) industries.
Overall, sales
of durable goods surged 2.9 percent m-o-m in March, while sales of non-durable
goods rose 1.3 percent m-o-m.
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