Canadian data from Statistics Canada

  • Prior was -0.2% (revised from -0.6%)
  • Recorde $53.9 billion
  • Sales up in 16 of 21 industriles
  • Durables +1.3%
  • Nondurables +0.7%
  • Motor vehicles +4.5%
  • Inventories +1.2% in fourth consecutive increase
  • Inventory to sales ratio 1.35, unchanged

That glut in inventories doesn't bode well for GDP in the remainder of the year.