Wholesale sales beat forecasts for September
by The Canadian Press
Sales rose in eight provinces in September, led by Ontario and Quebec.
OTTAWA—Statistics Canada says wholesale sales increased 1.8 per cent from August to $54.0 billion in September.
The federal agency says the building material and supplies subsector led the increase.
Economists had expected a gain of 0.8 per cent, according to Thomson Reuters.
Statistics Canada says six of the seven subsectors recorded higher sales, which accounted for 83 per cent of total wholesale sales. In volume terms, wholesale sales edged up 1.8 per cent.
Sales rose in eight provinces in September, led by Ontario and Quebec.
Meanwhile, inventories were up for a ninth consecutive month, rising 0.5 per cent to $67.1 billion in September—the highest level on record.
