The expected drop in April manufacturing sales continues a pattern of volatility witnessed for sales activity so far in 2023. PHOTO courtesy Hypertherm.
Total manufacturing sales in Canada dipped 0.2% in April, an advance estimate of the month’s manufacturing sales activity from Statistics Canada indicates.
The primary metals industry suffered one of the largest decreases among the 21 industries the government statistical agency tracks.
The expected drop in April continues a pattern of volatility witnessed for manufacturing sales so far in 2023. Manufacturing sales were up 0.7% in March, following a 3.6% decline in February, which itself had followed a surprising 4.1% increase in January.
The advance estimate for April from Statistics Canada was calculated based on a weighted response rate of 68.6%. The average final response rate for the survey over the previous 12 months has been 94.4%. As Statistics Canada continues to collect data for the April reference month, this early indicator is subject to a higher revision rate than its regular monthly release.
The official estimate of manufacturing sales for the month of April, which will be based on a more complete set of survey and administrative data, is scheduled for release on June 15, 2023.