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Canadian manufacturing sales slip in April

Manufacturing sales in Canada slipped 1.3% to C$56.23 billion in April, after rising 1.4% in the previous month, driven by weakness in the petroleum and coal products and transportation equipment industries, Statistics Canada said.

Sales in the petroleum and coal products industry dropped 10.9% to C$5.22 billion from C$5.86 billion due to lower volumes. Transportation equipment sales fell 2.3% to C$10.86 billion from C$11.12 billion due to weaker sales of other transportation equipment and lower production of aerospace products and parts.

Total inventories rose for the seventh straight month, climbing 2.2% to C$81.19 billion from C$79.45 billion. The petroleum and coal products industry showed the largest inventory for the month.

The inventory-to-sales ratio rose to 1.44 in April from 1.40 in March.

New orders fell 1.6% to C$57.39 billion from C$58.32 billion, while unfilled orders were up 1.3% to C$90.01 billion from C$88.86 billion in the previous month.