Canadian factory sales rise slightly in April
- June 24, 2018
Statistics Canada figures released last week show that Canadian wholesale trade increased by 0.1 per cent in April from March.
Higher sales in the machinery, equipment and supplies subsector were largely offset by declines in the motor vehicle and parts subsector.
Sales in the machinery, equipment and supplies industry rose 2.3 per cent, the third straight monthly increase, while the food, beverage and tobacco industry was up 1.9 per cent. But most of the gains were offset by a sales decline of 4.0 per cent in the motor vehicle and parts sector. That’s the largest percentage decline since November 2016, Statscan said.
Inventories edged up 0.1 per cent, the first increase in three months, with four subsectors increasing stocks.
The inventory-to-sales ratio was unchanged at 1.31 in April.