Cananda October manufacturing sales +2.1% vs +1.3% expected

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• Manufacturing sales rose 2.1% to C$70.8B in October, rebounding from two straight monthly declines
• In volume terms: Sales up 1.4%
• Year-over-year: Down 0.2%
• Petroleum and coal products led gains, surging 15.9%
• Transportation equipment sales increased 3.7%
• Motor vehicle sales hit highest level since April 2024
• Paper sales dropped 3.5%, biggest decline among sectors

Other details:

Inventory-to-sales ratio improved to 1.69 from 1.72
• Capacity utilization rate rose to 80.5% from 78.6%
• Unfilled orders edged down 0.2% to C$104.6B

A solid rebound in Canadian manufacturing, driven mainly by petroleum products and autos. But the year-over-year decline suggests some underlying weakness remains.

This article was written by Adam Button at www.forexlive.com.