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Canada manufacturing sales fall more-than-expected

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Forexpros - Canadian manufacturing sales fell more-than-expected in June, official data showed on Tuesday.

In a report, Statistics Canada said that manufacturing sales declined by a seasonally adjusted 1.5% in June, after dropping by 0.7% in May, whose figure was revised from a 0.8% drop.

Economists had expected Canadian manufacturing sales to fall by 0.5% in June.

Manufacturing sales in June totaled CAD45.3 billion, the lowest level since November 2010. Sales have declined for three consecutive months after growing steadily since May 2009.

The declines were concentrated in the petroleum and coal product, miscellaneous, and machinery industries.

Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD climbing 0.55% to hit 0.9852.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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