Wholesale trade sales data from Statistics Canada:
- Prior was +1.8% (revised to 1.9%)
- Wholesale inventories -0.1% vs -0.2% prior
Canadian trade and manufacturing data from December has been running strong so I don't see this as a big surprise. Whether that's a one-month blip or the start of a currency-fueled boom in manufacturing is the big question.
In the manufacturing sales report earlier this week, the new orders component contracted so there's some skepticism that whatever was going on in December will last.
