- Prior month 3.6% revised lower to 3.4%
Details for March:
- Canadian manufacturing sales rose 3.0% in March to $73.6 billion, the highest level since January 2025. The expectation was for a gain of 3.5%.
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Sales increased in 9 of 21 subsectors, led by:
- Petroleum and coal products: +22.7%
- Transportation equipment: +6.0%
- Excluding petroleum and coal products, manufacturing sales still rose 0.7% in March.
- Year-over-year manufacturing sales increased 3.5%.
- In real terms, manufacturing sales rose 1.0%, while the Industrial Product Price Index increased 2.4%.
- First-quarter 2026 manufacturing sales edged up 0.1% to $214.1 billion, marking the third straight quarterly increase.
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Top contributors to the quarterly gain:
- Petroleum and coal products: +4.9%
- Primary metals: +4.3%
- Transportation equipment sales fell 6.5% in Q1, the largest quarterly decline among subsectors.
How did specific industries do?
- Petroleum and coal product sales surged 22.7% in March to $9.4 billion, the highest since September 2023.
- The increase was largely price-driven, as real sales fell 3.5%.
- Energy and petroleum prices jumped 27.4% amid Middle East geopolitical tensions and disruptions through the Strait of Hormuz.
- Quarterly petroleum product sales rose 4.9% in Q1 2026, the third straight quarterly increase.
- Exports of refined petroleum products increased 14.4% in March.
- Transportation equipment sales rose 6.0% to $11.4 billion in March after a 19.8% gain in February.
- Motor vehicle sales jumped 15.0%, leading the increase within the sector.
- Auto production increased following factory retooling completion and the addition of a new production shift at another assembly plant.
- Motor vehicle and parts exports rose 5.4% in March.
- Despite the monthly gain, motor vehicle sales fell 13.6% in Q1 2026.
- Aerospace production rose 5.2% in March to a record $3.0 billion.
- Growth was supported by strong global demand for commercial aircraft, business jets, aircraft parts, and maintenance services.
- Q1 aerospace production increased 1.4% to $8.7 billion.
- Aircraft and aircraft parts exports rose 1.2% in March.
This article was written by Greg Michalowski at investinglive.com.
