Canada wholesale sales increase more than expected
|Fundamental Analysis
CAD
“Ontario recorded the largest increase of wholesale sales in dollar terms among the provinces and territories, and the largest portion of the increase came from the motor vehicle and parts subsector.”
- Statistics Canada
The value of Canadian wholesale trade advanced more than expected in December, official figures revealed on Monday. According to Statistics Canada, the country's wholesale trade rose 0.7% in the reported month, continuing its uptrend for the third consecutive month, whereas market analysts anticipated an increase of 0.4%. In the meantime, the November gain of 0.2% was revised down to 0.1%. In volume terms, sales gained 0.9% in December, which is expected to prop up economic growth for the month. In the report, Statistics Canada said sales had appreciated in six out of seven sectors. Comparing with 2015 levels, there was a 3.1% gain in sales in 2016, the seventh consecutive yearly surge. The largest annual gain of 4.6% came in the machinery sector, suggesting a solid investment trend. The report also showed both household goods and food sectors rose 0.9% on a monthly basis, while building suppliers posted a 1.4% increase for the month. Nevertheless, there was a 2.1% decline registered in the motor vehicle sector, which is set to threaten growth in manufacturing sector’s output. In addition, wholesale inventories rose 1.1% for the fifth straight month in December.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.