Lagging Wholesalers and Inflation Show Weak Canada Recovery
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Falling wholesale sales and slower than expected inflation add to signs that a drop in crude oil prices is damaging Canada’s economic recovery.
Wholesale sales dropped by 0.6 percent in October from the prior month, the fourth straight decline. Economists surveyed by Bloomberg forecast an increase. Statistics Canada also reported Friday from Ottawa that consumer prices in a so-called core basket of goods also had a surprise decline in November from October, the first time in a year it registered a drop.