Canada wholesale sales rose for fourth month

Wholesale sales in Canada rose for the fourth consecutive month in April, posting the longest streak of gains in a year, boosted by computer and communication supplies. Data published by the Statistics Canada showed that receipts edged up 0.2% to $49 billion in April, compared with a downwardly revised 0.1% gain in the preceding month. Analysts, however, expected a slightly bigger increase of 0.4%. The volume of wholesale sales jumped 0.4% over the same period. The main drivers were sales of computer and communications equipment that soared 10.4% in April, leading to a 2.6% gain in the machinery and equipment components. At the same time, sales of personal and household goods advanced 1.6% during the month. Meanwhile, sales within the industry have been unstable in the recent months.

Canadian wholesalers have been seeking to recoup losses during the last months of 2012, when the economy expanded at the slowest pace since the 2009 recession. And even despite a 1% growth since December, sales are still 1.2% lower from a year earlier. 

Also Wednesday, the Statistics Canada showed that the nation's net foreign debt declined C$70.8 billion in the three months to C$231.3 billion, as the value of Canadian holdings of foreign equity advanced during the period.