Ottawa, Canada (4E) – Canada’s wholesale sales jumped for a fourth consecutive month in April, the longest streak of increases in a single year, with computer and communication supplies leading the way.
The value of sales grew 0.2 percent to 49.03bn Canadian dollars ($ 48.02bn), according to a Statistics Canada report released on Wednesday. Sales volume, which is included in the calculation of monthly economic output, rose to 0.4 percent. In a survey of 15 economists conducted by Bloomberg News, it forecast sales to climb 0.3 percent from the initial figure of 0.3 per cent increase in March.
Out of seven sectors, only three recorded gains in April, accounting for about half of overall sales.
Sales of computers and communications equipment and supplies surged 10.4 percent while machinery, equipment and supplies sector grew 2.6 percent.
Total wholesale inventories bounced back 0.3 percent compared to a revised 0.3 percent decline the previous month, which was originally estimated to have slightly climbed by 0.1 percent. The inventory-to-sales ratio, the number of months for inventories to be exhausted if sales remained at current level, was unchanged at 1.26.
Canada’s net foreign debt fell $ 70.8bn Canadian dollars in the first three months of the year to $ 231.3bn Canadian dollars as Canadian holdings of foreign equity rose in value during the quarter, according to Statistics Canada in a separate report.
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