Free Trial

Manufacturing Sales Volumes Solid In May

CANADA DATA
  • Manufacturing sales offered a stronger than expected increase in May with a nominal 1.2% M/M (cons 0.8) but it was offset by a downward revised -0.1% M/M in April (initial +0.3%).
  • The picture looks stronger in volume terms though, jumping 2.2% M/M in May after a slightly upward revised 0.9% M/M and with a 3m/3m rate at 8.5% annualized.
  • Combined with inventories declining -0.6%, the inventory-to-sales ratio fell from 1.72 to 1.69 for its first decline since January, although it still remains historically elevated. That unwillingness to run inventories as low as pre-pandemic likely reflects having been burnt by stock issues over the past couple years.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.