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Canadian wholesale sales flat in November

Published 01/21/2014, 08:37 AM
Canadian wholesale sales unexpectedly flat in November
USD/CAD
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Investing.com - Canadian wholesale sales were flat in November, confounding expectations for a modest increase, official data showed on Tuesday.

In a report, Statistics Canada said wholesale sales were unchanged from a month earlier in November, compared to forecasts for a 0.4% gain. Wholesale sales for October were revised down to a rise of 1.2% from a previously reported gain of 1.4%.

Lower sales in five subsectors, representing 63% of wholesale sales, were offset by higher sales in the motor vehicle and parts subsector and the food, beverage and tobacco subsector.

Excluding the motor vehicle and parts subsector, wholesale sales declined 0.5%.

Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD rising 0.42% to hit 1.0996.

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