Canada’s wholesale sales fell by 1.2% in the latest report, a significant decline from the previous month’s increase of 1.2%. This represents a 2.4 percentage point swing, indicating a notable shift in wholesale market activity.
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The actual decline of 1.2% was slightly better than the analyst estimate of a 1.3% drop, suggesting a marginally less severe contraction than anticipated. This result may exert downward pressure on sectors reliant on wholesale distribution, such as retail and manufacturing. The market impact is likely to be short-term, driven by sentiment around consumer demand and business activity.