Canada: Manufacturing sales to rise by 2.0% m/m in March - TDS

Analysts at TDS are looking for Canadian manufacturing sales to rise by 2.0% m/m in March (consensus: +1.0%), reflecting recent strength in exports as well as the robust Q1 labour market.

Key Quotes

“We do see a few idiosyncratic risk factors: Syncrude upgrader fires will be a headwind to petroleum production, while the pullback in US auto sales could weigh on the car and car parts subcomponent. Factory prices rose in March, which suggests that volumes will trail the nominal figures, but real manufacturing sales are still expected to increase at a more than 10% annualized pace for Q1 as a whole.”