Wholesale sales up 0.7% in June to $56.4B: StatsCan
Motor vehicle and parts subsector gained 3.1% to $11.2 billion.
OTTAWA — Statistics Canada says wholesale sales gained 0.7% in June to total $56.4 billion, the third consecutive month of gains.
The growth topped the 0.1% increase for the month that had been expected by economists, according to Thomson Reuters.
Four of the seven subsectors tracked, representing 68% of wholesale sales, recorded gains. Wholesale sales rose 0.6% in volume terms.
The largest increase in dollar term was by the motor vehicle and parts subsector which gained 3.1% to $11.2 billion.
Wholesale sales were up in four provinces in June, with gains in Ontario the biggest in dollar terms as it grew 0.8% to $28.9 billion.
Other provinces making gains were Alberta, up 3% to $6.2 billion; British Columbia, up 2% to $5.7 billion; and Quebec, up 0.2% to $10.4 billion.