The week begins on a downward note in at least one macroeconomic area in this country.
Figures released Monday by Statistics Canada show wholesale sales in this country dropped unexpectedly in September on weak demand for machinery and equipment. This, after a streak of four upward months in the last five.
The agency revealed that wholesale sales fell 1.2% on a seasonally-adjusted basis in September to $56.03 billion dollars. The month-over-month result missed expectations by a wide margin, as traders had anticipated a 0.5% gain, according to economists at Royal Bank of Canada.
In volume terms, wholesale trade declined by a steeper 1.5%.
Declines were recorded in five sub-sectors, led by lower sales in the machinery, equipment and supplies and the miscellaneous sub-sectors.
