Petroleum drives Canadian factory sales up 4.6% in April
Canadian factory output is on a three-month winning streak and oil is doing the heavy lifting.
Manufacturing sales rose an estimated 4.6 percent in April from the prior month, Statistics Canada reported Tuesday, with the petroleum and coal products subsector again posting the largest gains.
The advance follows a 3 percent climb in March, which lifted factory sales to their highest level since early 2025, the Wall Street Journal reported.
The momentum is notable given that earlier in the year manufacturers were contending with trade uncertainty and US tariffs.
Geopolitical tensions tied to the Middle East conflict disrupted energy markets and drove up prices, fuelling the petroleum-led gains in both months.
S&P Global's manufacturing purchasing managers' index climbed to 53.3 in April from 50 the prior month, the Journal reported, with production and new orders both rising.
Respondents flagged concerns over product availability and price pressures linked to the Iran conflict.
Wholesale trade also edged up an estimated 0.1 percent in April, a third consecutive monthly gain, though well below the 1.9 percent rise recorded in March, Statistics Canada said.
Building materials and supplies partly drove the latest advance.
The broader business environment, however, carries some caution.
Statistics Canada revealed business insolvency filings rose 10.1 percent in February, climbing from 366 to 403.
Payroll employment fell 0.3 percent that month, even as real GDP grew 0.2 percent.
Statistics Canada noted the April manufacturing figure is a preliminary estimate based on a weighted survey response rate of roughly 72 percent, below the 12-month average final response rate of 92.7 percent, and is subject to revision when final results are released June 15.
