RTTNews - Canadian manufacturing sales fell less than expected in April, edging down 0.1% from the previous month to $41.0 billion, according to data released Monday morning by Statistics Canada.
Economists were expecting manufacturing sales to drop more than 1% in April.
Manufacturing sales leveled off between February and April, after plunging 18.7% between October 2008 and January 2009. Sizeable gains in the transportation equipment industry were offset by weakness in other industries. Excluding the transportation equipment industry, manufacturing sales decreased by 2.8%.
Constant dollar manufacturing sales gained 0.4% in April. The slight rise in constant dollar sales indicates an increase in the volume of sales between March and April.
Although manufacturing sales remaining largely unchanged in April, sales decreased in 16 of 21 manufacturing industries.
The weakness in most sectors was offset by a 16.4% gain in the transportation equipment industry. Production in the aerospace industry increased by $714 million in April, following a $626 million decline in March. Motor vehicle parts manufacturers also reported a 19.4% sales gain, reversing most of the 20.5% drop in March.
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