Statistics
Canada reported on Friday that wholesale sales (excluding petroleum and oilseed
and grain) rose 0.4 per cent m-o-m to CAD82.73 billion in July, following an unrevised 0.6 per cent m-o-m drop in June. That marked the first monthly increase
in wholesale sales in three months.
Economists had predicted
a 1.1 per cent m-o-m decline for July.
According to
the report, sales went up in four of the seven subsectors, including farm product, excluding oilseed and grain (+6.1
per cent m-o-m)., miscellaneous (+3.0 per cent m-o-m), food, beverage and
tobacco (+1.7 per cent m-o-m), and
motor vehicle and motor vehicle parts and accessories (+1.3 per cent m-o-m).
Meanwhile, personal and household goods (-2.5 per cent m-o-m), building
materials and supplies (-0.7 per cent m-o-m), and machinery, equipment and
supplies (-0.3 per cent m-o-m) posted decreases in wholesale sales in July.
In y-o-y terms,
wholesale sales (excluding petroleum, petroleum products, and other
hydrocarbons and excluding oilseed and grain) surged 1.1 per cent in July.