Canadian manufacturing shipments climb 1.0% in April
Statistics Canada released manufacturing shipments on Wednesday. Canadian manufacturing shipments climbed 1.0% in April, beating expectations for a 0.6% increase, after a 0.9% drop in March.
The increase was mainly driven by higher sales in the petroleum and coal product, transportation equipment, and primary metal industries. Transportation equipment sales rose 2.1% in April, sales of petroleum and coal products jumped 8.3%, while sales of primary metals increased 3.9%.
Inventories decreased 0.4% in April, mainly driven by a drop in transportation equipment.