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Manufacturing & Wholesales Lift In August Advance

CANADA DATA
  • Manufacturing sales are seen to have increased 1.0% M/M in the advance August release, a reasonable increase following the 1.6% in July considering the volatile series has recently swung between monthly increases and declines.
  • Wholesale sales meanwhile are pencilled to have increased 2.6% M/M in August after 0.2% in July, focusing here on the underlying measure of excluding petroleum, petroleum products, other hydrocarbons and oilseed & grains.
  • Ahead of monthly GDP on Friday, with the full details for July along with the advance August estimate, these latest nominal measures help offset some of the weakness seen in last week’s advance retail sales of -0.3% M/M.

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