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Manufacturing Decline Adds To Signs March GDP Will Be Weak

CANADA DATA
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  • Canada manufacturing sales -2.1% MOM vs -2.8% flash estimate, prior +0.7%.
  • Largest decreases were petroleum and motor vehicles, where production was slowed by factory retooling.
  • Sales volumes -2% MOM, -2.4% YOY as industrial prices +0.8% MOM in March.
  • Capacity utilization +78% in March from +78.3% in Feb as production decreased.
  • Manufacturing -0.9% in Q1, led by transportation equipment and metals.
  • Report adds to evidence GDP will be weak in March. Earlier reports showed wholesale trade, employment and building permits also fell in March and there was also a trade deficit. StatsCan's earlier flash GDP for March showed 0.0%.
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  • Canada manufacturing sales -2.1% MOM vs -2.8% flash estimate, prior +0.7%.
  • Largest decreases were petroleum and motor vehicles, where production was slowed by factory retooling.
  • Sales volumes -2% MOM, -2.4% YOY as industrial prices +0.8% MOM in March.
  • Capacity utilization +78% in March from +78.3% in Feb as production decreased.
  • Manufacturing -0.9% in Q1, led by transportation equipment and metals.
  • Report adds to evidence GDP will be weak in March. Earlier reports showed wholesale trade, employment and building permits also fell in March and there was also a trade deficit. StatsCan's earlier flash GDP for March showed 0.0%.