Canada Manufacturing sales for June 2.1% vs 2.0% estimate

Canada June manufacturing sales data

• Prior -0.6%
• Manufacturing sales for June 2.1% versus 2.0% estimate. The decline was the second consecutive monthly fall
• machinery, chemical and fabricated metals industry were mainly responsible for the decline
• sales of wood product manufacturing increase the most followed by primary metal
• year over year total sales were up 42.6% off of the Covid decline
• Manufacturing sales declined in six provinces led by Ontario (-1.0%), Manitoba (-6.6%), and Québec (-0.6%). Alberta posted the largest increase (+1.6%). It was the 13th consecutive month with higher sales.
• Inventories rose 0.7%. Inventory to sales ratio moved up to 1.54 from 1.56
• unfilled orders decreased in April by -4.1% led by a 11.3% decline in unfilled orders on aerospace products.
• Capacity utilization was unchanged at 77.5%
• Canada wholesale sales -0.8%
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