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According to analysts at TD Securities, Canadian manufacturing sales are forecasted to bounce back with a 0.6% increase in January (market: 0.4%) on a rebound in refinery output.

Key Quotes

“Lower industrial prices, driven by gasoline, should allow real manufacturing sales to outperform the nominal print and provide a source of strength for industry-level GDP.”

“New home prices for December will be released alongside manufacturing sales where TD and the market look for a flat print.”