Statistics Canada released its Monthly Survey of Manufacturing on Monday, which showed that the Canadian manufacturing sales tumbled 28.5 percent m-o-m in April to CAD36.37 billion, following a revised 9.8 percent m-o-m decline in March (originally a 9.2 percent m-o-m drop), as many manufacturing plants operated at limited capacity or ceased operations completely in April due to COVID-19. That was the largest decline in manufacturing sales on record.

Economists had forecast an 18.7 percent m-o-m plunge for April.

According to the survey, sales decreased in all 21 industries, led by sharp declines in the transportation equipment (-76.4 m-o-m percent, the largest decrease on record) and petroleum and coal product (-46.4 m-o-m percent, the largest drop on record) industries.

Overall, sales of durable goods industries declined 38.3 percent m-o-m in April, while sales of non-durable goods industries plunged 18.7 percent m-o-m.