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Main Indicator: Manufacturing Shipments
Most Recent Release
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Actual | Forecast | Previous | Revised Form | |
| -1.6% | -0.4% | 1.3% | 1.6% | ||
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For March
From the Release: "Manufacturers gave back some of their recent gains in March as factory sales retreated 1.6% to $49.0 billion. The scope of March's slowdown was extensive as 18 of the 21 manufacturing industries, representing 76% of total sales, posted declines. A sharp downturn in motor vehicle manufacturing was the chief contributor. Sales were down 7.7% compared with the peak level of $53.1 billion set in March 2007.
In the first quarter of 2008, manufacturing sales fell 5.5%
to $143.8 billion compared with the same period one year earlier. The
ongoing slump in the auto sector contributed to the decrease. March's decline in sales was the first in 2008 as manufacturers had
recovered slightly from December's slowdown (-3.6%). Market uncertainty
in the United States, Canada's dominant trading partner, has
contributed to volatility in some manufacturing industries."
USD/CAD - Loonie Retests Parity Once Again: The weaker manufacturing news did not stop the US Dollar-Canadian Dollar's pair from falling during NY trading. It has established a downtrend during the last 5 sessions, with parity acting as support. Last week the bounced off this level rather strongly, while this week it seems that there is a new determination to break below that level.
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Table of Past Data
| 8/15 | 9/14 | 10/16 | 11/15 | 12/13 | 1/18 | 2/15 | 3/17 | 4/16 | 5/15 | ||
| Actual | -1.8% | 2.3% | -1.7% | -0.9% | 0.1% | 1.1% | -3.4% | 1.3% | 1.6% | -1.6% | |
| Forecast | 0.1% | 1.0% | -0.9% | -0.5% | -1.5% | 0.5% | 0.0% | 1.0% | 0.8% | -0.4% | |
| Previous | -0.2% | -2.0% | 1.3% | -2.2% | -1.1% | 0.0% | 1.0% | -3.4% | 1.3% | 1.3% | |
| Revised From | -0.1% | -1.8% | 2.3% | -1.7% | -0.9% | 0.1% | 1.1% | N/A | N/A | 1.6% | |
Past Releases
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Actual | Forecast | Previous | Revised Form | |
| 1.6% | 0.8% | 1.3% | N/A | ||
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For February
Manufacturing data for the month of February was rosier than expected, with shipments climbing 1.6% as the auto industry bounced back. The Canadian Dollar has been gaining this week as record high oil prices strengthened the currency. This session, the USD/CAD already fell around 100 pips in favor of the Loonie, and this news should buttress it further and let it hold on to its gains. The US on the other hand showed another round of weak housing data, pressuring the greenback. From the Release:
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Actual | Forecast | Previous | Revised Form | |
| 1.3% | 1.0% | -3.4% | N/A | ||
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For January
"After closing out 2007 on a dismal note, manufacturers started 2008 with a modest but positive lift. Manufacturing sales increased by 1.3% in January to $49.3 billion, as the sector struggled to spring back from the three-year low posted in December (-3.7%)." |
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Actual | Forecast | Previous | Revised Form | |
| -3.4% | 0.0% | 1.0% | 1.1% | ||
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For December
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Actual | Forecast | Previous | Revised Form | |
| 1.1% | 0.5% | 0.0% | 0.1% | ||
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For November Official Release from Statistics Canada Canada's monthly manufacturing shipments rose faster than expected in November, the first increase in four months. Higher prices for petroleum and coal products drive up sales (+7.7%) for these items. New orders climbed 8.1%, shipments jumped 1.1%, and were up 0.5%. |
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Actual | Forecast | Previous | Revised Form | |
| 0.1% | -1.5% | -1.1% | -0.9% | ||
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For October. Official Release from Statistics Canada Manufacturing sales edged up 0.1% in October, holding steady after decreasing 5 out of the last 6 months. Industries that gained include aerospace products (+8.4%) and miscellaneous manufacturers, such as sporting goods and jewlery (+6.1%). Transportation (-2.3%) pulled down sales, with car sales (-5.8%) leading the fall. |
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Actual | Forecast | Previous | Revised Form | |
| -0.9% | -0.5% | -2.2% | -1.7% | ||
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For September. Statistics Canada Manufacturing shipments fell 0.9% in September, continuing a weakening trend observed over the past six months. Sales of manufactured goods decreased to C$50.4 billion from the C$50.8 billion reported in August. It is the lowest level since October 2006. Excluding motor vehicle and parts sales, manufacturing sales decreased 2.7% in September. |
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Actual | Forecast | Previous | Revised Form | |
| -1.7% | -0.9% | 1.3% | 2.3% | ||
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For August. As reported by Statistics Canada, the motor vehicle industry pulled manufacturing sales lower in August, after having the opposite impact in July. Recent volatility in this indicator has been heavily influenced by fluctuations in the transportation equipment industry. Excluding the motor vehicles and parts industries, sales increased 0.2%, the eight increase in the past 12 months. Durable goods dropped 2.8%, the fourth decrease in the past five months. new orders fell 5.0% after a strong July. |
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Actual | Forecast | Previous | Revised Form | |
| 2.3% | 1.0% | -2.0% | -1.8% | ||
| July's Manufacturing Shipments rebounded to the highest level since March. June's sharp decline was a drop in motor vehicle shipping, which returned to somewhat normal levels in July. 12 of the 21 manufacturing industries reported increased shipment, with the motor vehicle industry rising 17.6%, according to StatCan. Durable goods orders rebounded after 3 previous months of decline, gaining 3.7%. | |||||
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Actual | Forecast | Previous | Revised Form | |
| -1.8% | 0.1% | -0.2% | -0.1% | ||
| The auto industry had its biggest slump in almost 4 years, according to StatCan, pulling down manufacturing shipments in June. The motor vehicle sector dropped 13.3% due partly to the strong Canadian dollar. Durable goods shipments fell 3.2%, while non-durables dropped 0.3%. | |||||