Canada factory sales rise 0.1% in June, extending gains to five months

Canada's factory sales edged up 0.1% in June to a seasonally adjusted C$78.82 billion, or about US$56.58 billion, marking a fifth consecutive month-over-month increase and beating expectations for a 0.1% decline. Statistics Canada said volume-based, or price-adjusted, factory sales rose 1.2%. The stronger manufacturing data added to other firm Canadian indicators cited by markets, helping support the Canadian dollar, which strengthened to 1.39 per U.S. dollar for a third straight weekly gain as Canada-U.S. yield spreads narrowed and investors kept alive expectations that the Bank of Canada could still raise rates if energy prices remain elevated.

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