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July Manufacturing Sales Flash Estimate +0.7%

CANADA DATA
  • Gain was led by petroleum and coal product, food, and primary metal subsectors.
  • The 3M/3M trend is back to 1.5% annualized as of July after the -1.7% M/M from June.
  • The 0.7% M/M increase offers a modest boost for monthly GDP after yesterday's 0.4% advance for retail sales. GDP will be released for Q2 and the monthly print including its July advance on Sep 1, ahead of the Sep 6 BoC decision.

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