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Canadian Wholesale Sales Bounce Back In February

Canadian wholesale sales unexpectedly rose in February, rebounding from a decline in the previous month, official data from Statistics Canada showed Monday.

Wholesale sales rose 1.6 percent in February to C$48.5 billion, followed a 1.1 percent decline in January.

Economists predicted wholesale sales would be down 0.17 percent, but a 2.2 percent rise in volumes helped drive a monthly increase.

Auto factories were humming, as sales were up 2.7 percent to C$7.7 billion in February. Meanwhile, sales in the machinery, equipment and supplies subsector rose 1.7 percent in February.

Inventories rose 1.1 percent to C$59.0 billion in February, the 13th increase in 14 months.

by RTTNews Staff Writer

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