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April manufacturing sales -0.6% vs a....>

CANADA DATA
CANADA DATA: April manufacturing sales -0.6% vs +0.5% expected, a 
miss that masks a revision for March to +2.6% from +2.1%. Sales ex-autos 
+0.5% vs. March +2.4%. Sales volume -0.8%. Motor vehicles decline 8.9% 
on temporary shutdowns, fewer units assembled. Inventories/sales ratio 
climbs to highest since last recession in 2009 at 1.53 in April, from 
1.50 in March. Bank of Canada is tracking inventory buildup as potential 
weak spot. Other parts of report also show weakness including -0.3% 
unfilled orders and -1.4% new orders. Petroleum/coal sales +2.9%, the 
fourth consecutive increase.

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