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- Canada’s manufacturing sales increase more than expected in March
Canada’s manufacturing sales increase more than expected in March
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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