Caijing Macro: Signs of Canadian Manufacturing Recovery Emerge as Sales Increase

Bradley Sanders of Capital Economics stated that in April, manufacturing sales in Canada increased by 1.8% compared to the previous month, which was not solely attributed to the oil industry and rising prices, supporting the view that the industry is in the early stages of recovery. The economist added that this growth also supports the preliminary estimate of a 0.4% rebound in GDP for the same month by Statistics Canada. The sub-industry of petroleum and coal products led the way with a significant 23% increase in sales, reaching a new high. Sanders also mentioned that there are signs of genuine strength in other areas of manufacturing, as 17 of the 21 sub-industries tracked showed an increase in sales.