A small beacon was provided Thursday for the economy by Statistics Canada.
The agency reported that wholesale sales rose 1.8% to $55.9 billion in May. StatsCan also says gains were made in six of seven sub-sectors, accounting for 88% of total wholesale sales, led by the motor vehicle and parts sub-sector.
The nation's number crunchers revealed that, in volume terms, wholesale sales increased 1.5%. The motor vehicle and parts sub-sector recorded the largest gain in dollar terms in May, rising 3.6% to $10.8 billion. The motor vehicle industry, which advanced 3.7%, accounted for most of the advance, recording its highest level since last January.
Meanwhile, the agency reported that sales in the food, beverage and tobacco sub-sector rose 3.2% to $11.1 billion in May, the second increase in three months.
