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Canadian factory sales fall 2.7 percent

Posted on: Friday, 15 May 2009, 11:02 CDT

Canada's March manufacturing sales fell 2.7 percent to $41.4 billion, reversing the previous month's 2.2 percent gain to $42.9 billion, statistics show.

Most analysts had expected a 1 percent increase in March.

With the March decrease, factory sales fell almost 25 percent from their peak reached in July 2008, with most of the drop occurring between November and January, Statistics Canada said.

Motor vehicle sales rose 22.2 percent for the month, but sales of motor vehicle parts slid 17.6 percent. Aerospace sales fell 32.4 percent and primary metal manufacturing dropped 7.6 percent.

Excluding the auto sector, manufacturing sales fell 3.6 percent in March. Sales in 15 of 21 categories showed decreases.

Much of the manufacturing-sales decline was in Quebec, which accounted for slightly more than half the national decrease, the bureau said.

Constant-dollar manufacturing sales dropped 2.4 percent in March to $38.2 billion, meaning most of the overall decline was due to a drop in the volume of sales rather than to currency fluctuations.

Sales in 15 of 21 manufacturing industries decreased in March, accounting for about three-fourths of total sales.

Source: United Press International

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