Canada’s wholesale sales increased by 0.1% in the latest report, a slowdown from the previous month’s 0.6% rise. This marks a significant deceleration in growth, with the sales rate dropping by 0.5 percentage points compared to the prior period.
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The actual result of a 0.1% increase surpassed analyst expectations, which had forecasted a 0.1% decline. This unexpected growth is likely to boost sentiment in sectors reliant on wholesale distribution, such as retail and manufacturing. The market impact may be short-term, driven by improved confidence in consumer demand and business activity.