Investing.com – Canadian wholesales fell unexpectedly in July, official data showed on Monday.
In a report, Statistics Canada said wholesale sales fell by a seasonally adjusted 0.1% in July, after declining by 0.3% in June.
Analysts had expected wholesale sales to rise by 0.6% in July.
The report showed that wholesale sales declined to $43.9 billion in July, with the largest decrease recorded in the motor vehicle industry, which fell by 3.8% in July. It was the first drop in this industry since April 2010.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.06% to hit 1.0336.
In a report, Statistics Canada said wholesale sales fell by a seasonally adjusted 0.1% in July, after declining by 0.3% in June.
Analysts had expected wholesale sales to rise by 0.6% in July.
The report showed that wholesale sales declined to $43.9 billion in July, with the largest decrease recorded in the motor vehicle industry, which fell by 3.8% in July. It was the first drop in this industry since April 2010.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.06% to hit 1.0336.