image Economic Indicators15 hours ago (Jul 17, 2020 09:10AM ET)

(C) Reuters. FILE PHOTO: Canada federal election

OTTAWA (Reuters) – Canadian wholesale trade rose by 5.7% in May from April, the biggest jump for almost 17 years, as restrictions imposed to fight the coronavirus outbreak were relaxed, Statistics Canada said on Friday.

Analysts in a Reuters survey had predicted an 8.5% jump from April. Statscan revised April’s record plunge to 21.4% from an initial 21.6% drop.

Sales were up in six out of seven subsectors, representing 78% of wholesale trade, while sales grew in seven of the ten provinces. Sales rose by 5.2% in volume terms.

Around 60% of the overall gain in May was due to sales of motor vehicles, parts and accessories, which soared by 33.4% gain but remained 62.6% lower than in May 2019.

The monthly overall increase in wholesale trade was the greatest since the 6.9% advance recorded in September 2003.

Canada May wholesale trade posts highest jump in almost 17 years

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.