Canadian Wholese Sales Drop Unexpectedly by 0.8%

Statistics Canada says wholesale sales fell 0.8 per cent to $62.8 billion in February.

The agency says it was the largest downward move and the second monthly drop since September 2017.

usdcad Canadian dollar graph, April 23, 2018

Sales fell in four of the seven subsectors tracked, representing 64 per cent of total wholesale sales.

In volume terms, wholesale sales fell 0.9 per cent.

The miscellaneous subsector posted the largest drop in dollar terms in February as it fell 3.7 per cent to $7.7 billion. Sales in the motor vehicle and parts subsector fell 2.1 per cent to $11.3 billion.

Meanwhile, sales in the personal and household goods subsector rose 0.8 per cent to $8.7 billion.

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