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