Manufacturing sales in Canada jumped 10.7 percent over a month earlier to CAD 40.2 billion in May 2020, following a downwardly revised record 27.9 percent slump in the previous month and beating market expectations of a 9.5 percent rise. It was the largest increase in manufacturing sales on record, as many manufacturers resumed operations following full or partial shutdowns related to COVID-19 in April. Sales were up in 18 of 21 industries, in particular transport equipment (81.7%), namely motor vehicle (CAD 983.5 million) and motor vehicle parts (CAD 439.8 million); petroleum & coal product industry (18.6%); miscellaneous manufacturing (92.6%); printing (91.6%); clothing (90.4%), furniture (89.6%); leather and allied product (89.0%) and textile mills (88.7%). Sales advanced in eight provinces in May, led by Ontario and Quebec.
Manufacturing Sales in Canada averaged 0.24 percent from 1981 until 2020, reaching an all time high of 10.70 percent in May of 2020 and a record low of -27.90 percent in April of 2020. This page provides - Canada Manufacturing Sales MoM- actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Manufacturing Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics Canada
Manufacturing Sales in Canada is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Sales in Canada to stand at 1.30 in 12 months time. In the long-term, the Canada Manufacturing Sales MoM is projected to trend around 1.50 percent in 2021 and 2.00 percent in 2022, according to our econometric models.