Canada: Manufacturing sales to decline 0.1% in August – TDS

Analysts at TDS are looking for Canadian manufacturing sales to decline 0.1% in August, slightly above the market consensus for -0.3% m/m.

Key Quotes

“After falling nearly 20% in July, motor vehicle shipments should make a partial rebound and offset a drag from broader manufacturing activity. Petroleum sales should also contribute positively due to a sharp increase in gasoline prices towards the end of the month. Due to higher factory prices as a whole, real manufacturing sales should underperform the headline print.”.