Canadian Market Analysis --Source: Statistics Canada, Preston Estimates

摘要

While the Canadian economy showed surprising strength in April, based on actualresults compared to economists’ expectations, the details did not bode as well for the pipe andtube sector. Manufacturing was strong, up by 0.8% in April, but Statistics Canada saidinventories increased possibly suggesting a correction down the road. Construction spendingwas down 0.5% in April which represented the largest decline in a year. Oil and gas productionwas up but mining activity, excluding oil and gas, dropped 9.1% due to a labor disruption. Thestronger than expected month did, however, lead economists to suggest that a 2% annualizedgrowth rate in Q2 is possible.