Wholesale trade dipped 1% in March, following weak manufacturing numbers reported earlier this week by Statistics Canada.
The downward trend has market watchers keeping an eye on retail numbers, due to be reported on Friday, May 18.
The Canadian dollar, trading at US$0.76 at 9:10 a.m. Pacific time, is trading at a six-week low today following reports that the United States Federal Reserve might increase interest rates in September, a stronger U.S. dollar and falling commodity prices, including oil.
Wholesale trade in Ontario was down 1.4%, with a decline in motor vehicles and parts a major contibutor to the drop. In British Columbia wholesale trade fell by 3.2%, the lowest level since Januray 2015.
Canadian manufacturing sales declined 1.6% in March, but B.C. was one of three provinces to see an increase (up 2.9%).
@jenstden
