Canada: Manufacturing sales edged lower in February - RBC

Sandeep Kanihama FXStreet Contributor

Nathan Janzen, senior economist at the Royal Bank of Canada, notes that the Canada’s headline nominal sales slipped 0.2% lower after a 0.8% January increase.

Key Quotes

“The drop in volume sales in February left the measure down slightly (0.2%) from a year-ago – led by a pullback in the motor vehicle sector. Still, bad weather may be partly to blame. A record number of work hours were lost due to weather in February.”

“Headline GDP growth is still likely to be soft in Q1 at around 1% but also still in part due to transitory disruptions to oil production and bad weather effects, both of which should reverse going forward.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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