Cananda October manufacturing sales +2.1% vs +1.3% expected- Manufacturing sales rose 2.1% to C$70.8B in October, rebounding from two straight monthly declines
- In volume terms: Sales up 1.4%
- Year-over-year: Down 0.2%
- Petroleum and coal products led gains, surging 15.9%
- Transportation equipment sales increased 3.7%
- Motor vehicle sales hit highest level since April 2024
- Paper sales dropped 3.5%, biggest decline among sectors
Other details:
- Inventory-to-sales ratio improved to 1.69 from 1.72
- Capacity utilization rate rose to 80.5% from 78.6%
- Unfilled orders edged down 0.2% to C$104.6B
A solid rebound in Canadian manufacturing, driven mainly by petroleum products and autos. But the year-over-year decline suggests some underlying weakness remains.
This article was written by Adam Button at www.forexlive.com.
Source: Cananda October manufacturing sales +2.1% vs +1.3% expected (https://www.forexlive.com/news/cananda-october-manufacturing-sales-21-vs-13-expected-20241213/)
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