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- 1.3% was ahead
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- Manufacturing sales rose 2.1% to C$70.8B in October, reversing two straight monthly declines
- In terms of volume: sales up 1.4%
- Year over year: down 0.2%
- Gains were led by oil and coal products, rising 15.9%
- Transportation equipment sales increased 3.7%
- Motor vehicle sales hit their highest level since April 2024
- Paper sales fell 3.5%, the biggest decline among sectors
Other details:
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- The inventory-to-sales ratio increased to 1.69 from 1.72
- Capacity utilization rate rose to 80.5% from 78.6%
- Unfilled orders decreased 0.2% to C$104.6B
A strong rebound in Canadian manufacturing, driven mainly by petroleum products and automobiles. But the year-over-year decline shows that fundamental weakness remains.
This article was written by Adam Button at www.forexlive.com.
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