Canada Wholesale Trade Climbs 1.9% in April

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The FINANCIAL — Wholesale trade in Canada rose for a second straight month in April, besting expectations by a significant margin, on strong activity in the auto sector and the biggest gain in sales of industrial machinery in nearly a half decade, according to Nasdaq.

Month-over-month wholesale trade increased by 1.9% in April to a seasonally-adjusted 55.19 billion Canadian dollars ($44.83 billion), Statistics Canada said on June 17. Market expectations were for a 0.3% rise, according to economists at Royal Bank of Canada.

On a 12-month basis, wholesale trade rose 6.7%.

In volume terms, wholesale sales in April rose by 2%.

The previous month’s data were revised slightly higher, to indicate wholesale sales rose 1% in March versus the previous estimate of a 0.8% gain.

Meanwhile, wholesale inventories climbed 0.5%, to C$71.84 billion, to hit a fresh record.

 

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