Canadian wholesale trade rises for first time in five months
OTTAWA (Reuters) - The value of Canadian wholesale trade rose for the first time in five months in November, climbing 1.8 percent on strength in the motor vehicles and parts sub sector, Statistics Canada said on Wednesday.
The increase - much greater than the 0.5 percent gain predicted by analysts in a Reuters poll - was the biggest since the 4.2 percent jump seen in December 2014.
Sales advanced in four of the seven sub sectors in November, representing 65 percent of wholesale trade. In volume terms, sales grew by 1.6 percent.
The motor vehicle and parts sub sector posted a 4.8 percent gain in November while sales in the miscellaneous sub sector rose 4.1 percent to a record high, in part due to a 10.9 percent advance in the agricultural supplies industry.
Wholesale inventories slipped by 0.2 percent while the inventory-to-sales ratio dropped to 1.31 from 1.33 in October.
(Reporting by David Ljunggren; Editing by Chizu Nomiyama)
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