Canadian factory sales up 1.0 percent after two consecutive declines
OTTAWA (Reuters) - Canadian manufacturing sales grew by a greater-than-expected 1.0 percent in April from March after two consecutive month-on-month declines, data from Statistics Canada indicated on Wednesday.
The increase was greater than the 0.6 percent gain forecast in a Reuters polls of analysts. Volumes climbed by 1.4 percent while prices slipped by 0.5 percent.
Sales advanced in 10 of 21 industries, representing 55 percent of Canadian manufacturing. Sales in the petroleum and coal products industry climbed 8.3 percent after a 13.4 percent increase in March.
Transportation equipment sales rose by 2.1 percent, in part due to a 6.3 percent jump in shipments of aerospace products and parts. Primary metals sales rose by 3.9 percent.
Overall inventories edged down by 0.4 percent to their lowest level since December 2014, while new orders rose by 7.9 percent.
(Reporting by David Ljunggren; Editing by Chizu Nomiyama)
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