News

Canada November wholesale trade sales +0.7% vs +1.0% expected

Wholesale sales data from Canada

  • Seventh consecutive month of gains
  • Prior was +1.0%
  • Manufacturing sales -0.6% vs -0.4% expected
  • Manufacturing sales ex autos +0.2%
  • November inventories decreased 0.6% to $89.6 billion-its lowest level since March 2019
  • Full report

Sales in November were 4.4% higher than in February, so the pre-pandemic losses have been completely erased. All subsectors are also up year-over-year.

The machinery, equipment and supplies subsector has been the strongest since the pandemic with building supplies close behind.

Wholesalers are running lean inventories and that suggests there’s more good news to come in the pipeline even with new orders down 1.2% in November.

For bank trade ideas, check out eFX Plus

Leave a Reply

Your email address will not be published. Required fields are marked *