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- Canada’s wholesale sales rise much more than forecast in April
Canada’s wholesale sales rise much more than forecast in April
Statistics
Canada reported on Tuesday the wholesale sales rose 1.7 percent m-o-m in April,
following an unrevised 1.4 percent m-o-m increase in March.
Economists had
forecast an advance of 0.2 percent m-o-m for April.
According to
the report, higher sales were recorded in five of seven subsectors, accounting
for 86 percent of total wholesale sales. The motor vehicle and motor vehicle
parts and accessories subsector (+3.2 percent
m-o-m) was the leading contributor to April's gain, followed by the machinery,
equipment and supplies subsector (+2.2 percent m-o-m). Excluding motor vehicle
and parts, wholesale sales surged 1.4 percent m-o-m in April.
At the same
time, wholesale inventories increased 0.4 percent m-o-m in April. Inventories
were up in five of seven subsectors, representing about 78 percent of total
wholesale inventories.
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