January wholesale trade leap confirms recovery
OTTAWA (Reuters) - Canadian wholesale trade jumped by a much greater-than-expected 3.0 percent in January from December, providing more proof that the recovery is well underway, Statistics Canada data indicated on Wednesday.
The increase, the strongest since the 5.0 percent leap recorded in December 2006, was far larger than the 0.5 percent rise forecast by market operators. Statscan revised December's month-on-month growth to 0.9 percent from an initial 0.7 percent.
In terms of volume of sales, January wholesale trade was up 2.9 percent from December. All seven sectors posted advances.
The TSX closed yesterday at an 18 month high.
The building materials sector advanced by 4.2 percent on the back of a 5.8 percent increase in housing starts in January from December. The government says it is closely watching the housing sector but has not seen any signs of a bubble so far.
The automotive products sector grew by 4.8 percent in January on a 6.1 percent rise in the sales of motor vehicles, while the machinery and electronic equipment sector was up by 2.6 percent. Wholesale inventories fell by 1.1 percent from December, the 11th consecutive monthly decline.
The latest jobs report that was released last Friday stated a gain of 21,000 jobs. Unemployment rate went down slightly from 8.3 to 8.2 percent.
All good news for Canadians but not for Liberals. No wonder Mr. Iffy's Liberals were to scared to show up to vote on the budget. Instead just enough got the "flu" to avoid an election. Where is their alternative budget? Is not an official opposition and government in waiting supposed propose one? At least offer suggestions and amendments in which I gather they offered none.
They have nothing What would they going to run on, the economic recovery is starting to take hold? Jobs are being created and the unemployment rate is starting to go down?
Remember Mr. Iffy didn't want anything to do with the recession. He wanted PM Harper to "wear the recession." Well it seems Mr. Harper has worn it fairly well!
That's why the drive by smears and faux scandals from the opposition and their MSM.
The government is doing a pretty good job and that's all they have.
Guess it is all Harper's fault that Mr. Iffy and the Libs have to resort to these smear jobs to get any traction. Sad.