Canada: Manufacturing sales to fall 1.5% m/m in July - TDS
|TD and the wider market both expect Canadian manufacturing sales to fall 1.5% m/m in July, building on a 1.8% decline the prior month.
Key Quotes
“Nominal output will be constrained by lower factory prices, a pullback in real exports and the impact of British Columbia wildfires, which shuttered lumber mills in the province for a portion of the month. While the risks around our forecast are arguably tilted to the downside, the decline in real manufacturing sales should be more subdued than the nominal print.”
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