Investing.com - Canadian wholesale sales rose significantly more-than-expected in October, official data showed on Wednesday.
In a report, Statistics Canada said wholesale sales increased by a seasonally adjusted 1.4% in October, easily surpassing expectations for a 0.4% gain. Wholesale sales for September were revised down to a flat reading from a previously reported gain of 0.2%.
Higher sales were reported in five of seven subsectors, representing over 70% of wholesale sales.
Following the release of the data, the Canadian dollar remained lower against its U.S. counterpart, with USD/CAD rising 0.38% to hit 1.0648.
In a report, Statistics Canada said wholesale sales increased by a seasonally adjusted 1.4% in October, easily surpassing expectations for a 0.4% gain. Wholesale sales for September were revised down to a flat reading from a previously reported gain of 0.2%.
Higher sales were reported in five of seven subsectors, representing over 70% of wholesale sales.
Following the release of the data, the Canadian dollar remained lower against its U.S. counterpart, with USD/CAD rising 0.38% to hit 1.0648.