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

August 16, 2024
-FCHFX

August 16, 2024 at 01:30PM

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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