Canada: Manufacturing sales expected to post a 1.0% m/m gain in June – RBC CM

Research Team at RBC Capital Markets, are forecasting a 1.0% m/m gain in Canada’s nominal manufacturing sales in June, following a sizeable 1.0% m/m decline in May.

Key Quotes

“May’s result was negatively impacted by the Alberta wildfires and supply chain disruptions in the auto sector and we expect some reversal of these in June. On a volumes basis, the May outcome was even worse (-2.1% m/m), and we see a 0.9% m/m partial rebound in June.”