Manufacturing sales rose 10.7% in May: StatsCan
July 22, 2020
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Statistics Canada says manufacturing sales rose in May after posting a record plunge in April, but remained well below their pre-pandemic level.
The agency says manufacturing sales rose 10.7 per cent to $40.2 billion in May from a month earlier as many factories resumed production after full or partial shutdowns due to the COVID-19 pandemic, according to Canadian Press.
Still, May’s sales were 28.4 per cent below their pre-pandemic level in February.
Economists on average expected an increase of 9.5 per cent for May, according to financial markets data firm Refinitiv.
Sales were up in 18 of 21 industries, led by the motor vehicle, motor vehicle parts and petroleum and coal products industries.
In volumes terms, manufacturing sales rose 8.8 per cent.