TD Securities projects a 3.2% month-on-month increase in Canadian manufacturing sales for March, driven by higher gasoline prices and transportation demand.
Canadian manufacturing sales are expected to climb 3.2% month-on-month in March, slightly below market consensus, according to economists. The rise is attributed to a 20% jump in gasoline prices at the pump and stronger transportation sector activity.
The forecast follows mixed signals in recent months, with prior data showing volatility in energy and auto-related production. Analysts note that while the increase reflects temporary price effects, underlying demand remains uneven across sectors.
No immediate market reaction was reported, though the data may influence near-term expectations for industrial output and inflation trends.