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July Factory Sales Preview-- Tues 8:30 EST

CANADA DATA
MNI (Ottawa)
  • MNI Median +9% factory sales vs. prior surprise of +21%.
  • StatsCan gave +8.7% flash estimate for July sales on Aug. 24, most data have come in close to flash estimates during pandemic.
  • Auto sales and lumber prices are expected to contribute the most to sales gains.
  • Food and beverages may fade after surge early in pandemic as households stocked up on basics; since then more restaurants and travel spots had opened up as alternatives.
  • Even with the expected gain, factories sales still way down from the pre-COVID level, -16% YOY in June.
  • Factory production costs also increased as firms have to provide PPEs for workers.
MNI Ottawa Bureau | +1 613-981-1671 | anahita.alinejad.ext@marketnews.com

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