The FINANCIAL — Canadian factory shipments declined in April by a heftier-than-anticipated rate, on the steepest drop in food sales in nearly two years. Shipments of aerospace products and petroleum also fell in the month, according to Nasdaq.
Seasonally-adjusted factory sales in Canada fell 2.1% to 49.77 billion Canadian dollars ($40.43 billion) in April, Statistics Canada said on June 15, for the third month-over-month decline since January. Traders had anticipated a smaller decline in April, of 0.5%, according to economists at Royal Bank of Canada. The previous month’s data were slightly revised to indicate sales rose 2.7%, versus an earlier estimate of a 2.9% advance.
April sales volumes fell 1%.
On a year-over-year basis, factory shipments fell 2.3%.
The data agency said with April’s data, the level of Canadian manufacturing sales fell 7.3% from the post-crisis peak hit in July, 2014.