According to a comprehensive report from WorldWay: Statistics Canada announced that, driven by increases in gasoline/coal and automotive sales, Canada's manufacturing sales in May rebounded 1.6% month-on-month to CAD 51.641 billion, the highest level since July of last year, outperforming the market expectation of a 1% increase. The April figure was slightly revised downward to a 0.2% decline, the first drop in four months.
During the same period, new manufacturing orders fell by 0.1% month-on-month, far below the downwardly revised 2.1% increase in April; unfilled orders fell by 0.5% month-on-month; manufacturing inventories fell by 0.6% month-on-month to CAD 71.864 billion, ending a four-month streak of growth. The inventory-to-sales ratio decreased from 1.42 in April to 1.39.
