- Prior -0.1% Revised to -0.2%
- 6.0% vs 5.7% prior y/y
- Sales ex autos +0.9% vs -0.6% revised to -0.7%
- New factory orders -0.1% vs +2.5% in April. Revised to +2.1%
- Unfilled orders -0.5% vs +0.5% prior
- Inventories -0.6% vs +1.1% prior
- Inventory/sales ratio 1.39 vs 1.42 prior
A bit of a mixed bag of data. Overall sales were up and they weren’t mainly driven by autos. Petroleum and coal among the top performers. Sales were up in 11 of 21 industries. Inventories fell and that helped the ratio dip to 1.39.
New orders falling is the big counter to the good headline number.
USD/CAD initially spiked to 1.0766 but is now down to 1.0755
With the BOC meeting at 15.00 (gmt +1) There’s enough negativity in this report to waylay any talk of the economy rocketing and thus interest rates.
Canadian manufacturing sales 16 07 2014
