Canada's manufacturing sales rise 0.3% in April, better than estimates

By Ovunc Kutlu

ISTANBUL (AA) - Canada's manufacturing sales rose 0.3% to $72.3 billion in April, according to figures released Thursday by Statistics Canada.

The figure came much better than market expectations of a 0.2% decrease while manufacturing sales increased by 0.8% in March.

Sales of motor vehicle parts jumped 25.1% in April, while petroleum and coal products rose 4.3%, Statistics Canada said in a statement.

Sales in the primary metal industry, on the other hand, declined the most with 5.4%, it added.

"As the supply chain issues continue to ease, transportation equipment manufacturers were able to increase production in the first four months of 2023 compared with the same months a year earlier to meet market demands and reduce order backlogs," the statement said.

On an annual basis, manufacturing sales were down 1.6% in April, compared to the same month of last year.