Global markets: Canada’s wholesale sales increase in May

By Commodity News Service Canada

WINNIPEG, July 21 – The following is a glance at the news moving markets globally.

CANADA’S WHOLESALE SALES UP
Wholesale sales rose 1.8 per cent to C$55.9 billion in May. Gains were recorded in six of seven subsectors, accounting for 88 per cent of total wholesale sales, and were led by the motor vehicle and parts subsector, Statistics Canada said in a report on Thursday.

In volume terms, wholesale sales increased 1.5 per cent.

US JOBLESS CLAIMS FALL
US jobless claims in the week ended July 16 dropped 1,000 to a seasonally adjusted 253,000, according to reports on Thursday.

Last week’s claims marked a three-month-low, analysts say.

CANADA’S EMPLOYMENT INSURANCE TICKS UP IN MAY
In May, 544,900 people received regular Employment Insurance (EI) benefits, up 0.9 per cent from the previous month, Statistics Canada said in a report on Thursday.

Provincially, Alberta recorded the largest increase in beneficiaries in May at 12.1 per cent. Smaller gains occurred in Newfoundland and Labrador, at 2.9 per cent, and British Columbia at 1.8 per cent. The number of beneficiaries decreased in the remaining provinces, including Prince Edward Island, down 4.4 per cent, Quebec, down 2.3 per cent, Manitoba, down 1.7 per cent, and, New Brunswick, down 1.6 per cent and Saskatchewan, down one per cent.

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