Canada Manufacturing Sales for June +0.1% vs -0.1% estimate

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  • Prior month +1.3%
  • Manufacturing Sales +0.1% versus -0.1% estimate

Details:

  • Manufacturing sales: +0.1% m/m to $78.8 billion, the fifth consecutive monthly increase.
  • Year over year: Sales were +14.5%.
  • Excluding petroleum & coal: Sales increased a much stronger 2.6% m/m.
  • Constant-dollar sales: +1.2%, suggesting underlying volumes were firmer than the headline nominal increase.

Subsector highlights

  • Chemicals: +6.0% to $6.3 billion, a fourth straight gain and highest since October 2022.
  • Transportation equipment: +2.8% to $12.4 billion, the fifth consecutive monthly increase.
    • Motor vehicle parts: +6.2%
    • Aerospace products & parts: +6.0%
  • Petroleum & coal:-14.1% to $10.1 billion, largely reflecting lower petroleum and energy prices.

Second-quarter strength is a positive 

  • Q2 manufacturing sales surged 9.3% to a record $235.1 billion, the fourth straight quarterly increase.
  • Petroleum & coal: +33.7% q/q
  • Transportation equipment: +14.7% q/q
  • Excluding petroleum & coal: +6.1% q/q
  • Constant-dollar Q2 sales: +4.6%
This article was written by Greg Michalowski at investinglive.com.

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