Canadian Manufacturing Higher in March

Canadian manufacturing sales rebounded in March, driven by gains in the motor vehicle sector and record sales in the food industry, data from Statistics Canada showed on Wednesday.

The 1.0 percent increase was in line with economists’ expectations, though the gain in volumes was less robust at 0.2 percent. Sales for February were downwardly revised to a drop of 0.6 percent from an initially reported 0.2 percent decrease.

Sales rose in 16 of 21 industries in March, accounting for 71 percent of the manufacturing sector. The transportation sector led the way, rising 2.1 percent as the vehicle and vehicle parts industries saw increases in sales volumes and prices.

Food industry sales rose for the second month in a row, climbing 2.6 percent to a record high of C$8.9 billion ($6.54 billion). Gains were widespread, with all nine food subsectors gaining, particularly meat and dairy.


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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza