Last month -2.6%
The Canada manufacturing sales data for August came in much better than expectations at 1.6% to $53.5B. The increase was better than the -0.3% decline expected and comes after 2 consecutive monthly declines.
- The gain was mainly attributable to higher sales in the transportation equipment, and petroleum and coal product industries.
- Sales were up in 8 of the 21 industries, representing 66% of the Canadian manufacturing sector.
- Once price changes are taken into account, sales volume in the manufacturing sector rose 1.2% in August.
- Manufacturing sales ex auto +0.2% vs 0.1% last (revised from +0.2%)
- New orders +4.4% vs -1.5% last (was -1.7%). The gain was mostly attributable to more new orders in the transportation equipment; electronic equipment, appliances and components; and the petroleum and coal product industries.
- Unfilled orders 0.0%
- Inventories 0.0%. Inventory to sales ratio 1.38x. This is down from 1.4x last month
- Sales increased in eight provinces in August, led by Ontario and Alberta, while Manitoba and Nova Scotia reported declines.
The USDCAD has fallen after the report and is trading back below the 200 hour MA at 1.2510 and the 100 hour MA at 1.25022.
Below is the change in sales.
