Canadian manufacturing sales increased in April at their fastest pace in four months, with energy and metals doing the heavy lifting amid a slowdown in the auto sector.
Factory shipments advanced in April 1.1% on a seasonally-adjusted basis to another record, 54.43 billion Canadian dollars ($41.21 billion), Statistics Canada said Thursday. That beat market expectations for a 0.9% increase, according to economists at Royal Bank of Canada.
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The data-gathering agency added that on a volume, or price-adjusted, basis, factory sales increased by 0.5%. Economists eye volumes to get a better gauge on economic activity.
On a 12-month basis, manufacturing shipments rose 7.6%.
March's data were revised downward, and now indicate sales rose 0.8% in the month from the earlier estimate of a 1% gain. However, February's results were upgraded, and now suggest shipments fell 0.2% versus the previously reported 0.6% decline.
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(END) Dow Jones Newswires
June 15, 2017 08:45 ET (12:45 GMT)