Canadian manufacturing sales data for January
– Prior was +2.3% (revised to +2.1%)
– Ex-autos +0.3%
– Sales of $53.8 billion in January
– Sales were up in 14 of 21 industries
That’s some good news for Canadian Q1 GDP but the report is rarely a market mover. Note that Canadian manufacturers are running lean inventories so there is still some upside from here.