Canada June manufacturing sales -0.8% vs -1.0% expected
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- Prior was -2.0% (revised to -1.1%)
- Wholesale trade sales +0.1% vs +0.5% expected
- Prior wholesale sales +1.6% (revised to +0.9%)
Manufacturing sales missed modestly but there was a better revisions to the prior. Wholesale trade was weak and with a negative revision but both numbers remained positive. Overall, this is a low-tier, lagging indicator and is completely overshadowed in CAD trading by the 5% decline in oil prices today.