Statistics Canada says higher prices lifted manufacturing sales in March
BNN Bloomberg
Canadian manufacturing sales and wholesale trade figures climbed higher in March, but the gains came due to higher prices.
Statistics Canada said Monday manufacturing sales rose 2.5 per cent to $70.2 billion in March, however sales in constant dollars were unchanged.
Meanwhile, wholesale sales rose 0.3 per cent in March to $79.8 billion, but in constant dollar terms sales fell 0.6 per cent for the month.
Nikita Perevalov, director of economic forecasting at Scotiabank, said the disappointing figures sowed some doubts about the durability of Canadian economic growth.
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Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
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