Canadian Wholesales Sales increase

Monday, 19 December 2011 04:17

According to Statistics Canada Wholesale sales increased by 0.9% to 49.2 billion Canadian dollars in October.

Analysts expected index to rise only by 0.6%.

U.S. dollar kept on loosing against CAD with a pair USD/CAD to trade at 1.0345 after the report.

The Wholesale Trade is a leading indicator of consumer spending. More goods are ordered by retailers when the expectations for consumer purchases are increasing.