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Canada's April manufacturing sales are expected to fall 1.1% following March's 3.5% rise, according to an economist consensus, reflecting a global semiconductor shortage that has disrupted auto production.
The decline is expected to continue into May as widespread lockdowns in Canada slowed activity and automakers continued to struggle with the chip shortage. The report is due at 830am EST on Monday, and the economist consensus aligns with Statistics Canada's earlier flash estimate.
The BOC last week held its policy settings and signaled it's looking through April weakness to a strong rebound afterwards, which sources tell MNI keeps the focus on a July tapering of QE.