Wholesale Trade Boosts 1% in September

The last week of November begins on a hopeful note, at least on the macroeconomic front, with word that wholesale trade was on the move upward in the last month recorded.

Statistics Canada says wholesale trade rose 1% to $65.1 billion in September, boosted by gains in the machinery, equipment and supplies sub-sector.

The agency says the move higher reversed a drop of 1.2% in August.

Economists had expected an increase of 0.3%. Statistics Canada says the machinery, equipment and supplies sub-sector reported the largest increase in dollar terms in September as sales rose 4.4% to $13.9 billion.

Sales in the personal and household goods sub-sector rose 1% to $9.6 billion in September.

Wholesale sales increased 0.9% in volume terms