Canada June manufacturing sales -2.1% vs -2.6% expected

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  • Prior was +0.4%
  • Sales at $69.6 billion in June on declines in 17 of 21 subsectors
  • Declines led by the transportation equipment (-2.9%), chemical product (-5.8%) and primary metal (-2.7%) subsectors
  • Total sales fell 0.3% in the second quarter of 2024 in third consecutive quarterly decline
  • Sales down 1.8% y/y
  • Total inventory levels +0.1%
  • Unfilled orders -0.8%

Retooling at auto factories made this look worse than it is but the longer-term numbers show a recession in that sector.

This article was written by Adam Button at www.forexlive.com.



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