Wholesale Trade Retains Steam in April

Wholesale sales were still red-hot in this country during the spring.

Figures released Tuesday by Statistics Canada revealed wholesale sales increased 1.7% to $65.3 billion in April, lent momentum by the motor vehicle and motor vehicle parts and accessories sub-sector.

The nation's number crunchers say the result trampled the 0.2% gain that had been expected on average by economists, according to Thomson Reuters Eikon.

Sales were up in five of seven sub-sectors accounting for 86 per cent of total wholesale sales.

The agency also went on to say wholesale sales in the motor vehicle and motor vehicle parts and accessories sub-sector rose 3.2% to $11.8 billion, the highest level since November 2017.

The machinery, equipment and supplies sub-sector increased 2.2% to $13.9 billion.

Wholesale sales rose 1.6% in volume terms.