More excitement was created in the Canadian economy this past fall.
Statistics Canada revealed Wednesday that Canadian wholesale trade jumped by 1.4% in October from September, exceeding expectations, as sales in the machinery, equipment and supplies sub-sector grew at the fastest rate in a decade.
The strength in the wholesale industry followed two months of weak or stagnant activity and far surpassed the median forecast of a 0.3% gain.
The agency revised down its estimate for September wholesale activity to flat from a gain of 0.2% previously.
In volume terms, October sales grew 1.2%.
Sales increased in five of seven sub-sectors representing over 70% of wholesale trade.
Machinery, equipment and supplies sales led the growth, rising 5.6% for the biggest monthly gain since September 2003. The personal and household goods sub-sector and farm products also registered strong gains while the auto sector fell 1.4%.
In the year to October, wholesale trade grew 3.5%.
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