Investing.com - Canadian wholesale sales unexpectedly declined in March, following two consecutive monthly gains, official data showed on Tuesday.
In a report, Statistics Canada said wholesale sales fell by a seasonally adjusted 0.4% in March, disappointing forecasts for a 0.5% gain. Wholesale sales increased by 1.1% in February.
Lower sales were recorded in three of the seven subsectors, which together accounted for 51% of wholesale sales. The motor vehicle and parts subsector recorded the largest decline in March.
Following the release of the data, the Canadian dollar added to losses against its U.S. counterpart, with USD/CAD rising 0.24% to hit 1.0901, compared to 1.0893 ahead of the data.
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