Canadian Factory Sales Slip on Weaker Transport Equipment

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.