- Prior was +0.3% m/m (revised to +0.4%)
- August preliminary reading +0.2%
- July construction +1.3%
- Utilities +1.7%
- Manufacturing -0.9% on refinery outages
- Retail trade -1.0% led by -3.5% at gasoline stations
- Wholesale trade -0.4%
This is a good reading considering the revisions that make for a very strong June number and the positive flash estimate for August that’s based on better mining and retail trade. USD/CAD is up 7 pips to 1.4179 today.
For July, the goods-producing industries grouping was essentially unchanged in July as increases in construction and utilities were offset by declines in the other sectors comprising the aggregate. The services-producing industries aggregate was essentially flat, as increases across several sectors were offset by declines in retail trade and wholesale trade.
This article was written by Adam Button at investinglive.com.