Canadian wholesale sales rose for a fourth month in April, the longest streak of gains in a year, led by computer and communications supplies.
Receipts rose 0.2 percent to C$49.0 billion ($48.0 billion), Statistics Canada said today in Ottawa, after a revised 0.1 percent gain in March. Economists surveyed by Bloomberg News forecast sales would climb 0.3 percent, the median of 15 responses, from an initially reported 0.3 percent gain in March.
Wholesalers have been seeking to recoup losses at the end of last year when the country’s economy grew at its slowest pace since the 2009 recession. While growing 1 percent since December, sales are still down 1.2 percent from a year earlier, the agency said today.
In volume terms, wholesale sales were up 0.4 percent in April.
Wholesalers of computer and communications equipment recorded a 10.4 percent gain in sales in April, helping to drive a 2.6 percent gain in the machinery and equipment component, Statistics Canada said. Sales of personal and household goods rose 1.6 percent during the month, led by higher sales of pharmaceuticals.
Sales of motor vehicles and car parts led declines with a 1.9 percent drop in April.
Four of the seven industry components of the measure recorded declines.
In a separate report, Statistics Canada said the country’s net foreign debt declined C$70.8 billion in the first quarter to C$231.3 billion as the value of Canadian holdings of foreign equity rose during the period.
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