Canada manufacturing sales May 2022
  • First decline in eight months
  • Prior was +1.7%
  • Sales lower in 11 of 21 industries
  • Motor vehicles -31.9% was the main driver
  • Primary metals -4.1% but were still the second-highest ever
  • Inventories +1.6% to new record
  • Inventory to sales ratio 1.54 vs 1.59 prior
  • Unfilled orders -0.8% after six consecutive increases
  • New orders -7.1%

"The declines were attributable to retooling at auto assembly plants and semiconductor part shortages," the release said.

This is a lower-tier release but CAD is a currency to watch today as it breaks down to the lows of the year.