Investing.com – Canadian wholesale sales rose significantly more-than-expected in May, posting the biggest gain in 18 months, official data showed on Wednesday.
In a report, Statistics Canada said wholesale sales jumped by 1.9% in May, after easing down 0.1% in April.
Analysts had expected Canadian wholesale sales to rise by 0.3% in May.
Canadian wholesale sales totaled CAD47.6 billion in May.
Virtually all of the increase in May resulted from higher sales in the agricultural supplies and the farm, lawn and garden machinery and equipment industries.
Following the release of the data, the Canadian dollar was higher against its U.S. counterpart, with USD/CAD shedding 0.3% to trade at 0.9470.
In a report, Statistics Canada said wholesale sales jumped by 1.9% in May, after easing down 0.1% in April.
Analysts had expected Canadian wholesale sales to rise by 0.3% in May.
Canadian wholesale sales totaled CAD47.6 billion in May.
Virtually all of the increase in May resulted from higher sales in the agricultural supplies and the farm, lawn and garden machinery and equipment industries.
Following the release of the data, the Canadian dollar was higher against its U.S. counterpart, with USD/CAD shedding 0.3% to trade at 0.9470.