Canada August Manufacturing Sales Rise 1.5% to Beat Forecasts Despite Wholesale Drop

Canadian manufacturing sales rose 1.5% month-over-month in August, topping expectations of a 1.1% gain and reaching a seasonally adjusted C$79.88 billion (US$56.1 billion). The rebound followed a revised 0.3% decline in July and marked the sixth increase in factory shipments over the past seven months, supported by higher prices and record metal sales. Conversely, Canadian wholesale trade fell 1.6% in August, missing estimates of a 1.5% drop after a revised 0.4% advance in July. The mixed data will help inform third-quarter economic growth projections.