Canada July Wholesale Sales Unexpectedly Drops

Wholesale sales in Canada shed 0.1 percent in July to $43.9 billion, led lower by the vehicle and auto parts sector, Statistics Canada reported Monday.

Excluding sales of vehicles and auto parts, which dropped 3.2 percent, wholesale sales were up 0.6 per cent, the federal agency said.

Economists had expected wholesale trade to rise between 0.1 and 0.3 percent in July, following a 0.3 percent decline the previous month.

Sales were down in Quebec (0.9 percent) and Ontario (0.2 percent).

Statistics Canada said the food, beverages and tobacco products subsector recorded the biggest increase in July, rising 2.3 percent.

The machinery, equipment and supplies subsector was up one per cent to $9.1 billion in July, following a decline of 1.5 percent in June.

Related Stories