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14.06.2024

Canada’s manufacturing sales increases marginally less than anticipated in April

The Monthly Survey of Manufacturing, released by Statistics Canada on Friday, revealed that Canadian manufacturing sales increased by 1.1 per cent m-o-m in April to CAD70.80 billion, following an upwardly revised 1.8 per cent m-o-m decline (from -2.1 per cent m-o-m) in March. This marked the largest monthly gain in manufacturing sales since November 2023 (+1.4 per cent m-o-m). 

Economists had foreseen a rise of 1.2 per cent m-o-m for April.

According to the survey, 12 of 21 industries demonstrated advances in sales in April, driven by the primary metals (+4.7 per cent m-o-m), transportation equipment (+4.1 per cent m-o-m) and chemical products (+4.0 per cent m-o-m) subsectors. On the contrary, the textile mills (-14.3 per cent m-o-m), miscellaneous manufacturing (-9.9 per cent m-o-m), and leather and allied product (-3.0 per cent m-o-m) industries showed the biggest declines.

Overall, sales of durable goods jumped 1.6 per cent m-o-m in February, while sales of non-durable goods climbed 0.6 per cent m-o-m.

Broken down by province/territory, manufacturing sales increased in 7 administrative divisions in April, driven by Alberta (+2.5 per cent m-o-m) and Ontario (+0.9 per cent m-o-m). Meanwhile, sales in Newfoundland and Labrador (-28.0 per cent m-o-m) and New Brunswick (-6.9 per cent m-o-m) saw the largest decreases.

In y-o-y terms, manufacturing sales were down 1.0 per cent in April.

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