Canadian Manufacturing

Statistics Canada says manufacturing sales posted record plunge in April

Manufacturing sales in volume terms fell by a record 26.0%

June 15, 2020  The Canadian Press

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.

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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%.