OTTAWA: The value of Canadian wholesale trade rebounded in June after a drop in May, rising 1.3 per cent on broad strength across most of the economy, Statistics Canada said on Thursday.
The increase exceeded the 1.0 per cent advance forecast by market analysts. Statscan revised May’s month-on-month fall to 0.9 per cent from an initial decline of 1.0 per cent.
Higher sales were recorded in five sub sectors in June, representing 86 per cent of wholesale sales. The biggest driver was the motor vehicle and parts category, which climbed 3.0 per cent from May.
After two consecutive declines, sales in the personal and household goods sector rose by 2.2 per cent to hit a new record.
The miscellaneous sector, which includes agricultural supplies and chemical products, fell for the fifth time in six months, dropping 1.7 per cent. Dry weather in crop-growing western provinces contributed to the decline.
Inventories edged up 1.1 per cent to hit a record high, with gains registered in six of seven subsectors.
