Canada August manufacturing sales +0.7% vs +1.0% expected

<ul><li><a href="https://www.forexlive.com/news/canada-july-manufacturing-sales-16-vs-07-expected-20230915/" target="_blank" rel="follow">Prior </a>was +1.6%</li><li>Inventories -0.1% vs -0.7% prior</li><li>Inventory to sales 1.69 vs 1.74 prior (prior revised to 1.70)</li><li>Unfilled orders +0.5% vs -1.0% prior</li><li>Capacity utilization 80.2% vs 77.6% prior</li></ul><p>The jump in capacity utilization was in the transportation equipment category, suggesting there was some rush to build up auto inventories before the strike.</p><p>I do want to highlight just how large inventories are compared to pre-covid. Inflation is some of it but they're up almost 50% from 2018 levels. That could be a major drag if/when a recession hits, or even on normalization.</p>

This article was written by Adam Button at www.forexlive.com.