Economy beats expectations

Statistics Canada says wholesale sales rose 1.4 per cent to $64.1 billion in March.

Economists had expected an increase of 0.9 per cent, according to Thomson Reuters Eikon.

The growth came as sales gained in six of the seven subsectors, accounting for 82 per cent of total wholesale sales.

The building material and supplies subsector climbed 4.5 per cent to $9.0 billion in March, while the machinery, equipment and supplies subsector rose 2.9 per cent to $13.5 billion.

The motor vehicle and motor vehicle parts and accessories subsector was the lone group to fall as it decreased 2.0 per cent to $11.3 billion. Excluding the subsector, wholesale sales were up 2.2 per cent in March.

Wholesale sales in volume terms rose 1.0 per cent in March.

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