Wholesale Prices Climbs in March, Exceeds Expectation
Wholesale Prices Climbs in March, Exceeds Expectation

Wholesale prices in Canada registered a climb surpassing expectation in March, triggered by the machinery, equipment and building materials sectors, Statistics Canada revealed Wednesday.

Its sales are reported to rise 1.4% to $44.4-billion, marking the fourth increase in five months. However, economists had augured a gain of 0.6% in March.

“The higher increase in the volume of sales, compared with the current dollar sales gain in March, principally reflects the lower prices paid by wholesalers for imported goods,” StatsCan quoted.

Also, the machinery, equipment and supplies sector witnessed a climb 4.9% touching $8.9-billion during the month – recorded to be the highest level since February 2009.

Building material and supplies too posted a rise for the seventh straight month, gaining 1.6% to $7-billion. However, personal and household goods sector, to show disappointment, marking a fall 0.6%.

Moreover, wholesale sales showed an upward trend in all provinces, with Ontario and Alberta witnessing the biggest gains by dollar value.

Canada’s fourth quarter GDP report mirrored a 2.4% slip in business investment in machinery and equipment.

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