Capital Economics analyst Thomas Ryan says Canadian manufacturing sales rose
further in May, with new orders and unfilled orders surging, supporting a
cyclical uptrend despite US punitive tariffs on the sector. Sales climbed 1.3%
MoM, slightly above Statistics Canada’s preliminary 1.1% estimate. Volumes rose
0.5% MoM and are more than 6% above their early‑year trough. Ryan says the data
implies upside risk to the preliminary estimate of May GDP growth of 0.1% MoM.
