Wholesale transactions in Canada climbed in August on demand for textiles, clothing and motor vehicles.
Wholesale transactions rose 0.5% on a seasonally adjusted basis in August to 57.06 billion Canadian dollars ($45.28 billion), Statistics Canada said Monday. Market expectations were for not immediately available.
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July's data were revised upward to indicate wholesale transactions rose by 1.7% in the month versus an earlier estimate of a 1.5% gain.
In volume, or price-adjusted, terms, August wholesale transactions increased 0.4% from the previous month.
On a 12-month basis, wholesale trade in Canada rose 10.1%.
Wholesale trade is the largest component of Canada's services sector--which in turn accounts for two-thirds of the country's economic output. Wholesalers tend to move merchandise in large quantities to institutional, industrial and retail clients. Markets tend to overlook the wholesale-trade data, even though it has a bigger weight in gross domestic product than the more closely watched retail sales.
August retail sales fell 0.3%, according to data released last week.
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(END) Dow Jones Newswires
October 23, 2017 09:13 ET (13:13 GMT)