Canadian Wholesale Trade Rises in December

The value of Canadian wholesale trade rose more than expected for a second month in a row in December, led by gains in the motor vehicle and parts sector, data from Statistics Canada showed on Thursday.

The 2.0 per cent gain topped economists’ expectations for a small increase of 0.2 per cent from November’s upwardly revised 1.9 per cent. Volumes increased by 1.8 per cent in December.

Motor vehicles and parts saw the largest increase in dollar terms, surging 10.6 per cent to $11.26-billion.

Sales of vehicles were the highest on record, while there was also an increase in exports and imports of vehicles and parts.

Sales in the food, beverage and tobacco sector rose 1.3 per cent, the second increase in three months.

Overall, higher sales were seen in four out of seven sectors, accounting for 66 per cent of wholesale sales.

For the year as a whole, sales grew 4.0 per cent, with every province except oil-sensitive Alberta posting higher sales. Still, most provinces saw slower growth last year compared to 2014.

via Globe and Mail

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza