By Paul Vieira
OTTAWA--Wholesale sales in Canada unexpectedly dropped in September on weak demand for machinery and equipment.
Wholesale sales fell 1.2% on a seasonally-adjusted basis in September to 56.03 billion Canadian dollars ($41.46 billion), Statistics Canada said Monday. The month-over-month result missed expectations by a wide margin, as traders anticipated a 0.5% gain, according to economists at Royal Bank of Canada.
In volume terms, wholesale trade declined by a steeper 1.5%.
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(END) Dow Jones Newswires
November 21, 2016 08:45 ET (13:45 GMT)
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