Canada April manufacturing sales -0.6% vs +0.4% expected

Canada manufacturing data

• Prior was +2.1% (revised to +2.6%)
• Ex autos +0.5% vs +2.4% prior (revised from +1.8%)
• New orders -1.4% vs +2.5% prior (revised from +1.5%)
• Inventories +1.3%

Big miss on manufacturing stales in April but it was auto driven and due to temporary assembly plant shutdowns. The market will look past this number.