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25.06.2019 20:43

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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