WatchEvidence Canadian economy exiting soft patch as wholesalers post fastest 2month gain

WatchEvidence Canadian economy exiting soft patch as wholesalers post fastest 2month gain

first_img Erik Hertzberg June 25, 20199:21 AM EDT Filed under News Economy Canadian exporters in a sour mood as outlook drops to 7-year low: EDC Comment More Canadian wholesalers posted their strongest two-month gain in more than three years in March and April, adding to evidence the country’s economy is emerging from a soft patch.Wholesale sales rose 1.7 per cent in April, easily exceeding the highest forecast in a Bloomberg survey of economists. It was the largest increase since 2016 and the fifth consecutive gain.When combined with March’s 1.4 per cent increase, Canada’s wholesalers posted their strongest two months since the end of 2015. Excluding price increases, wholesales increased 1.6 per cent. Inflation surges to highest in seven years, giving Bank of Canada room to hold rates Drop in auto production leads surprise decline in Canada’s factory output Canadian exporters in a sour mood as outlook drops to 7-year low: EDC Strong motor vehicle sales and parts led the April increase, rising 3.2 per cent — a payback from 1.9 per cent decrease in March. Still, wholesale sales rose 1.4 per cent excluding the auto sector, signalling the broad nature of the increase.The inventory to sales ratio pulled back to 1.39 in April, from 1.40 previously.Economists surveyed by Bloomberg were expecting just 0.2 per cent growth on the month.Bloomberg.com Reddit Bloomberg News Email Twittercenter_img Facebook 3 Comments Unemployment is at record low, so why are Canadians so worried about job insecurity, recession and cost of living? Share this storyEvidence Canadian economy exiting soft patch as wholesalers post fastest 2-month gain since 2015 Tumblr Pinterest Google+ LinkedIn Inflation surges to highest in seven years, giving Bank of Canada room to hold rates Evidence Canadian economy exiting soft patch as wholesalers post fastest 2-month gain since 2015 Wholesale sales rose 1.7 per cent in April, easily exceeding the highest forecast in a Bloomberg survey of economists Related Stories Join the conversation →last_img

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