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OTTAWA (MNI)
Canadian manufacturing and wholesale sales both climbed in the second quarter, the fourth such increase in a row, suggesting the economy remains in the solid rebound as expected by Bank of Canada policymakers.
Factory sales rose 2.1% in June to finish off a quarterly gain of 1.4%, Statistics Canada reported Monday. Auto assembly surged 26% in June as firms adjusted to a global chip shortage.
Wholesale sales rose 2.6% in Q2 even with a June decline of 0.8%. Excluding lumber and some other building supplies, wholesale sales gained 0.4% in June.
Wholesale sales
Source: Stats Canada
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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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.
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