Economy
Canadian Manufacturing Sales Up 1% in April
Canadian Manufacturing Sales Up 1% in April
Canadian manufacturing sector sold more goods than expected in April for the first time in three months.
Manufacturing sales surged 1 percent to $50.4 billion in April, according to the Statistics Canada report released on Wednesday.
The increase in April was as a result of higher sales in the petroleum and coal product, transportation equipment, and primary metal industries.
Sales rose in 10 of 21 industries, accounting for 55 percent of Canadian manufacturing sales.
In constant dollar terms, sales were up 1.4 percent, showing that higher volumes of manufactured goods were sold in April.
Prices in the sector fell 0.5 percent, according to the Industrial Product Price Index.