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Nov. Factory Sales -0.6% to C$57B, MNI..>

CANADA DATA
CANADA DATA: Nov. Factory Sales -0.6% to C$57B, MNI Median -0.4% 
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- November decline is the fifth in six months. 
- Lower sales in primary metals, chemical and food products mainly drive  
November decline.
- Sales in primary metals -11.7%; mainly due to the railway strike, the 
largest decline since 2008.
- Sales in transportation +4.2%; following UAW strike in October and 
September. 
- October factory sales revised to -0.2% from -0.7%. 
- Sales excluding autos -1.2% M/M.
- In constant dollars, total sales -0.8% M/M. 
- Inventory-to-sales ratio increased to 1.54; close to the highest 
record (1.55) since 2009. 
- Total inventories +0.5% to C$87.9B in November. 
- Capacity utilization rate -1.3pp to 79.2%; led by wood products 
(-12.1pp). 

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