Canada April 2020 manufacturing sales data
- Record drop
- Prior was -9.2%
- Sales down in all 21 industries
- 85.2% of manufacturers said activities impacted by COVID-19
- Transportation equipment -76.4% including 97.5% in motor vehicle parts
- Sales in petroleum and coal -46.5%
- Ex autos -21.5%
- Inventories -0.6% vs +0.7% prior
- Unfilled orders -1.2%
- New orders -31.3%
- Full report
"During the second week of May, many manufacturers resumed production after full or partial shutdowns in April," Statistics Canada said.
We all know that production essentially stopped in April. The question will be on how quickly it can bounce back. On that front, the Empire Fed was much better than expected.
