Canada wholesale trade numbers:
- Prior was +1.7% (revised to +1.4%)
- Inventories -0.3% vs +0.3% prior (revised from +0.5%)
- First inventory decline in 12 months
- Sales declines in 5 of 7 subsectors
- The machinery, equipment and supplies (-2.6%), the personal and household goods (-3.4%), and the motor vehicle and motor vehicle parts and accessories (-1.2%) subsectors contributed the most to the decline
This isn't a great sign for the Canadian economy and should mean some lower Q3 growth estimates.
No reaction in CAD though.
