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- Canada’s wholesale sales rise more than forecast in March
Canada’s wholesale sales rise more than forecast in March
Statistics Canada reported on Thursday the wholesale sales rose 1.4 percent m-o-m in March, following a revised 0.2 percent m-o-m increase in February (originally a 0.3 percent m-o-m gain).
Economists had forecast an advance of 0.9 percent m-o-m for March.
According to the report, higher sales were recorded in six of seven subsectors, accounting for 82 percent of total wholesale sales. The motor vehicle and motor vehicle parts and accessories subsector (-2.0 percent m-o-m) was the only subsector to decline. Excluding this subsector, wholesale sales surged 2.2 percent m-o-m in March.
At the same time, wholesale inventories increased 0.4 percent m-o-m in March. Inventories were up in four of seven subsectors, representing about 73 percent of total wholesale inventories.
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