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