Investing.com – Canadian wholesale sales rose more-than-expected in November, increasing for the fourth consecutive month, official data showed on Thursday.
In a report, Statistics Canada said wholesale sales rose by 1.2% in November, after rising by 0.3% in October, whose figure was revised up from 0.0%.
Analysts had expected Canadian wholesale sales to rise by 0.4% in November.
According to the data, Canadian wholesale sales totaled CAD45.7 billion in November. The increase in sales was due to higher sales in the machinery, equipment and supplies subsector, the miscellaneous subsector, and the food, beverage and tobacco subsector.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.29% to hit 0.9988.
In a report, Statistics Canada said wholesale sales rose by 1.2% in November, after rising by 0.3% in October, whose figure was revised up from 0.0%.
Analysts had expected Canadian wholesale sales to rise by 0.4% in November.
According to the data, Canadian wholesale sales totaled CAD45.7 billion in November. The increase in sales was due to higher sales in the machinery, equipment and supplies subsector, the miscellaneous subsector, and the food, beverage and tobacco subsector.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.29% to hit 0.9988.