Investing.com - Canadian wholesale sales rose in line with market expectations in March, gaining for the second consecutive month, official data showed on Thursday.
In a report, Statistics Canada said wholesale sales rose by 0.4% in March, in line with expectations.
February’s figure was revised to a gain of 1.5% from a previously reported increase of 1.6%.
Year-on-year, Canadian wholesale sales rose at an annualized rate of 6.0% in March, after climbing by a revised 6.9% in February.
Canadian wholesale sales totaled CAD48.7 billion in March. Higher sales were reported in three of the seven subsectors, accounting for almost half of total wholesale sales.
According to the data, the largest increase in dollar terms was in the motor vehicle and parts subsector. If this subsector is excluded, wholesale sales were unchanged.
Following the release of the data, the Canadian dollar remained lower against its U.S. counterpart, with USD/CAD gaining 0.2% to trade at 1.0141.
In a report, Statistics Canada said wholesale sales rose by 0.4% in March, in line with expectations.
February’s figure was revised to a gain of 1.5% from a previously reported increase of 1.6%.
Year-on-year, Canadian wholesale sales rose at an annualized rate of 6.0% in March, after climbing by a revised 6.9% in February.
Canadian wholesale sales totaled CAD48.7 billion in March. Higher sales were reported in three of the seven subsectors, accounting for almost half of total wholesale sales.
According to the data, the largest increase in dollar terms was in the motor vehicle and parts subsector. If this subsector is excluded, wholesale sales were unchanged.
Following the release of the data, the Canadian dollar remained lower against its U.S. counterpart, with USD/CAD gaining 0.2% to trade at 1.0141.