Factory sales in Canada are seen as likely to fall by 2.6% in June compared to May, mainly due to the chemical products and transportation equipment subsectors, Statistics Canada reported in preliminary estimates on Wednesday.
This estimate is calculated based on an average response rate of 71.0%. The average response rate for this survey over the previous 12 months was 94.4%.
The US goods trade deficit narrowed in June as exports rebounded, but trade is likely to remain a drag on economic growth in the second quarter.
The goods trade gap narrowed by 2.5% to $96.8 billion, according to the Commerce Department's Census Bureau on Wednesday. The deficit gap widened in the previous two months.
The government is scheduled to publish preliminary estimates of second-quarter GDP growth on Thursday. Gross domestic product likely rose at an annual rate of 2.0% in the final quarter, according to a Reuters poll of economists.
Trade contributed to a reduction in GDP in the first quarter, with the economy growing at a rate of 1.4% during the period.
