Canadian manufacturing sales, pushed up by gains in the aerospace and auto sectors, rebounded by 2.9% in March from February after big falls the previous two months, Statistics Canada said on Friday.
Analysts had expected a 1.2% advance. StatsCan revised February’s month-on-month drop to 2.2% from an initial 1.7% decline, citing new information from respondents.
The month-on-month increase in March was the largest since the 3.3% jump recorded in July 2011.
Output in the volatile aerospace industry jumped by 42.3% in March after dropping 29.4% in February. Most contracts are in U.S. dollars and a weaker Canadian dollar in March boosted the value of production.
Factory sales of motor vehicles grew by 12.8% as auto plants came back on stream after shutdowns for retooling in the first two months of the year.
Over all, sales rose in 10 of 21 industries, representing about 60% of all Canadian manufacturing. Constant dollar sales rose 2.9%, a sign the volume of goods sold in March also increased.
