Canadian wholesale trade slumped in May, giving back some of the previous two months' hefty gains, as sales of motor vehicles tumbled.
Data released Monday by Statistics Canada also show that sales fell by 1%, exceeding economists' forecasts for a flat reading, while sales were also down 1% in volume terms.
Lower sales in four sub-sectors accounted for the decline, making up 65% of overall wholesale trade.
The motor vehicle and parts category was among the biggest drags, down 3.1%. Excluding the sector, wholesale trade decreased just 0.6%
The miscellaneous sector, which includes agricultural supplies and chemical products, fell 3.7%, the fourth decline in five months.
Inventories edged up 0.1%, the seventh month of increases in a row. Inventories were up in four out of seven sectors, led by a 2% gain in the personal and household goods group.
