Statistics Canada says manufacturing sales posted record plunge in April
Manufacturing sales in volume terms fell by a record 26.0%
OTTAWA — Statistics Canada said manufacturing sales fell by a record amount in April, the first full month of physical distancing measures in the wake of COVID-19.
The agency said manufacturing sales fell 28.5% to $36.4 billion in April, following a 9.8% decline in March when the pandemic first began to take hold.
Economists on average had expected a decline of 20.0%, according to financial markets data firm Refinitiv.
Sales were down in all 21 industries, led by the transportation equipment and petroleum and coal product industries.
Sales in the transportation equipment industry fell by 76.4% to $1.9 billion in April, the largest drop on record, as Canadian vehicle assembly plants stopped operations, while the petroleum and coal product industry sales dropped by a record 46.4% to $2.0 billion.
Manufacturing sales in volume terms fell by a record 26.0%.