Wholesale Trade up by 1.9%
Canadian Wholesale Trade, which measure the change in the total value of sales at the wholesale level, increased by 1.9% in May 2011 to 47.6 million Dollars. Following a 0.1% drop in April, May's results were surprisingly wider. The expected figure forecasted by economonists was around 0.2%.
Most of the upturning resulted from increased sales in the agricultural supplies and the farm, lawn, garden machinery and equipment industries. Forex traders are interested as this is a leading indicator of consumer spending; retailers generally oreder more goods from wholesalers when they expect consumer sale to increase.
