Canada wholesale trade jumps more than expected in October

OTTAWA (Reuters) – The value of Canadian wholesale trade rose far more than expected in October as sales of building materials jumped and motor vehicle sales hit a record high, data from Statistics Canada showed on Tuesday.

The 1.1 percent increase was the biggest gain in five months and exceeded economists’ forecasts for a rise of 0.6 percent. September, however, was downwardly revised to a decline of 1.5 percent.

Vehicle sales rose 1.2 percent to C$8.96 billion ($6.68 billion), representing a record high and accounting for more than half of the gain in the overall motor vehicle and parts sector. The sector as a whole …
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