Wholesale sales up 0.3% in July at $56.5B: StatsCan

Motor vehicle and parts subsector leads increases, growing by 2% to $11.1 billion.

OTTAWA — Statistics Canada says wholesale sales climbed 0.3% to $56.5 billion in July, the fourth consecutive monthly increase.

Economists had expected a gain of 0.2%, according to Thomson Reuters.

Statistics Canada says five of seven subsectors gained ground, led by the motor vehicle and parts subsector and the food, beverage and tobacco subsector.

Wholesale sales were unchanged in July in volume terms.

The motor vehicle and parts subsector posted the largest increase in dollar terms in July as it grew by 2% to $11.1 billion.

The food, beverage and tobacco subsector increased 1.2% to $11.0 billion.

News from © Canadian Press Enterprises Inc. 2016

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