Figures out Thursday showed Canadian manufacturing sales rose more than expected to a record level in April, as sales of petroleum and coal products rebounded after two months of declines
Statistics Canada reported sales grew 1.1% to $54.43 billion, topping economists' forecast for a gain of 0.7%. March was revised downward to show an increase of 0.8% from an initially reported 1%
The agency adds sales were up in 13 of the 21 sectors surveyed, accounting for 62% of overall manufacturing. Stripping out the effects of price changes, sales volumes were up 0.5%.
Petroleum and coal products surged 8.9% on both higher volumes and prices.
Among other sectors that saw higher sales in April, primary metals increased 3.8%, while the paper sector gained 3.5%
Sales of transportation equipment fell 1.3%, mostly due to lower sales of motor vehicles and parts. Excluding autos, total manufacturing sales were up 1.9%
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