Wholesale Sales Increased in Canada, After Contracting for Three Months
Canadian wholesale sales have been declining in three out of the last four months, but they posted a nice jump for December
Skerdian Meta•Monday, February 24, 2020•1 min read
The Canadian economy has been weakening during 2019, following the rest of the globe. Certain sectors of the economy fell in contraction, while wholesale sales declined in three out of the last four months. Sales have declined by 2.5% in total since August last year. But, today’s report showed a decent jump for December.
- Canada December wholesale trade sales +0.9% vs +0.4% expected
- was -1.2% (revised to -1.1%)
- Four of seven subsectors higher
- Volumes rose 0.8%
- Sales up 2.3% in 2019, the 10th consecutive increase
This was the first rise after two declines and in Q4 sales were down 1.5% in total, to end a streak of 14 consecutive quarterly increases. The main drag was the automotive sector. But, sales turned positive in December, beating expectations of 0.4%. Although, the CAD is following crude Oil which has been bearish today, so this report is not having much impact.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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