Capital Economics: Canadian Manufacturing Industry Continues to Recover

Golden Ten Data reported on July 15 that Capital Economics analyst Thomas Ryan stated that Canadian manufacturing sales continued to rise in May, with new orders and unfilled orders surging. This confirms that despite the imposition of punitive industry tariffs by the United States, the industry remains in a cyclical uptrend. Sales increased by 1.3% month-on-month, slightly exceeding Statistics Canada's preliminary estimate of 1.1%. The volume of goods sold grew at a more moderate rate of 0.5%. However, Ryan pointed out that the volume has risen by more than 6% from the low at the beginning of this year. Overall, the economist said these figures suggest there is some upside risk to the preliminary estimate of a modest 0.1% month-on-month GDP increase in May.