Canada's factory sales surged 4.2% in April, led by petroleum and food sectors, while the growth rate of new orders slowed to 2.1%.

(1) Statistics Canada announced on Monday that factory sales in April increased by 4.2% month-on-month, mainly driven by higher sales in petroleum, coal products and the food industry. Manufacturing sales excluding automobiles and parts rose by 4.7%. (2) Factory sales data for March were revised up from the initial value of 3.0% to 3.4%, and sales excluding automobiles and parts in March were revised up from 2.4% to 2.8%. (3) New orders in April increased by 2.1% month-on-month, showing a significant slowdown compared to the revised 5.1% in March. Unfilled orders grew by 1.3%, down from the previous value of 2.6%. (4) Inventories in April increased by 0.5% month-on-month, and the inventory-to-sales ratio dropped from 1.68 in March to 1.62, indicating improved inventory turnover efficiency.