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- Canada’s wholesale sales rise more than forecast in June
Canada’s wholesale sales rise more than forecast in June
Canada’s
wholesale sales rise more than forecast in June
Statistics
Canada reported on Monday the wholesale sales rose 0.6 percent m-o-m to CAD64.15
million in June, following a revised 1.9 percent m-o-m decrease in May
(originally a 1.8 percent m-o-m drop).
Economists had
forecast an advance of 0.3 percent m-o-m for June.
According to
the report, higher sales were recorded in four of seven subsectors, accounting
for 54 percent of total wholesale sales. The
miscellaneous (+3.5 percent m-o-m), and the machinery, equipment and supplies (+1.5
percent m-o-m) subsectors contributed the most to the June advance, while the
motor vehicle and motor vehicle parts and accessories subsector (-1.9 percent
m-o-m) recorded the largest drop. Excluding motor vehicle and parts, wholesale
sales grew 1.1 percent m-o-m in June.
During the
second quarter of 2019, sales rose 1.3 percent, recording the 13th consecutive
quarterly gain.
At the same
time, wholesale inventories increased 1.5 percent m-o-m in June. Inventories
were up in six of seven subsectors, representing about 83 percent of total
wholesale inventories. Inventories surged 3.2 percent in the second quarter, recording
the 12th consecutive quarterly increase.
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