Wholesale sales excluding petroleum products and oilseeds and grains up in May
BNN Bloomberg
Statistics Canada says wholesale sales, excluding petroleum, petroleum products and other hydrocarbons and excluding oilseed and grains, rose 3.5 per cent to $83.6 billion in May.
The agency says it was the largest monthly increase since November 2021 as sales were up in four of the seven subsectors that it tracks.
Sales in the machinery, equipment and supplies subsector rose 5.6 per cent to $18.9 billion in May, while the miscellaneous subsector climbed 8.8 per cent to $11.3 billion.
The motor vehicle and motor vehicle parts and accessories subsector gained 7.1 per cent at $13.7 billion.
Israel killed another top Iranian official -- the intelligence minister -- in its campaign against the Islamic Republic’s leadership, and an Iranian offshore natural gas field was struck Wednesday amid the war’s escalating pressure on the region’s economic lifeblood: energy.
Bank of Canada holds rate at 2.25 per cent as growth weakens and oil-driven inflation risks rise amid geopolitical uncertainty.
U.S. stocks are sinking Wednesday after a discouraging report said inflation was primed to worsen, even before the war with Iran sent oil prices spiking.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
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U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.
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A key question hangs over the Federal Reserve’s two-day meeting that ends Wednesday: Will central bank policymakers still reduce short-term interest rates this year, now that the Iran war has sent oil prices higher and gas prices spiking? Or will they have to stand pat for months to see how the conflict plays out?
Wall Street followed global markets higher Wednesday and the price of U.S. crude fell eased despite a new barrage of attacks by Iran on its Gulf neighbors.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Shares advanced Wednesday in Europe and Asia as oil prices fell back slightly despite a barrage of attacks by Iran on its Gulf neighbours.