Canada flash March manufacturing sales -0.3% m/m

25 April 2022

Sales fell 0.4% in February (was first decline since July 2021)The decrease reflects lower sales in the machinery, equipment and supplies subsector.Estimate was calculated based on a weighted response rate of 58.1%Building materials were surprisingly strong, up 4.2% while the category of machinery, equipment and supplies fell by 4.2%.USD/CAD is up 47 pips today and broad global risk aversion and commodity declines.