Canada manufacturing sales for the month of December.
Canada manufacturing sales came in much weaker than expected at -0.7% versus +0.7% estimate. Moreover,
- The prior month was revised to -1.0% from -0.6%
- The decline is the 4th straight month in a row
- Ex auto manufacturing sales increase 0.1%
- In volume terms Canada factory sales fell -0.4%
- The declines were led by motor vehicle, aerospace
- Motor vehicle shipments declined -6.8%
- Aerospace products fell -16%
- Sales were down in 11 of 21 industries representing 43% of the Canada manufacturing sector
- Factory inventories drop -0.3%
- New orders fall -0.6%
- For all of 2019 sales increase 0.5%. That was down from 5.4% in 2018 and 6% in 2017
The price of the USDCAD has moved sharply higher after the results and is cracking its 200 hour moving average at 1.32724. The next target comes at the 50% retracement 1.32766.
