Canadian Factory Sales Slip on Weaker Transport Equipment

transport equipmentA worker fixes bolts to a custom snowboard at the Prior Snowboard Manufactory Ltd. facility in Whistler, British Columbia, Canada, on Tuesday, Dec. 3, 2013. Photographer: Abigail Saxton/Bloomberg

Canadian factory sales fell 0.9 percent to $50 billion in March, according to Statistics Canada this is due to lower sales of transport equipment and primary metals.

Although the data came out better than 1.8 percent decline expected by economists surveyed in a  Reuters poll, the data is still weak as sales were reportedly down in 16 of 21 industries, with transport equipment sales falling 3.4 percent to $10.8 billion, while primary metal sales plunged 5.6 percent to $3.5 billion.

Sales in petroleum and coal products industry rose 11.3 percent in March, making it their first rise in 10 months since global oil glut started.

Total inventories fell 0.4 percent to a level last since in January, while new orders declined 2.2 percent.

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Samed Olukoya
Samed Olukoya is the CEO/Founder of, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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